Housing costs in Fairbanks?
A typical home costs
$275,600, which is 18.5% less expensive than the national average of
$338,100 and 18.0% less expensive than the average Alaska home, at
$336,100. Renting a two-bedroom unit in Fairbanks costs
$1,540 per month, which is 7.7% more than the national average of
$1,430 and 12.3% more than the state average of
$1,350.
Can I afford Fairbanks?
To live comfortably in Fairbanks, Alaska, a minimum annual income of
$52,920 for a family, and
$46,800 for a single person is recommended.
What does A.I. say about Fairbanks?
The cost of living in Fairbanks, AK is on par with the rest of the United States. That said, the cost of housing is higher than some other parts of the country due to its remote location. The average one bedroom apartment costs $1,100 per month and a two bedroom apartment an average of $1,220 per month. Additionally, groceries are more expensive on average compared to other parts of the US as well as utility bills which can be high due to cold winter temperatures requiring extra heating.