Housing costs in Fairbanks?
A typical home costs
$300,500, which is 11.1% less expensive than the national average of
$338,100 and 2.9% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Fairbanks costs
$1,170 per month, which is 18.2% cheaper than the national average of
$1,430 and 6.0% cheaper than the state average of
$1,240.
Can I afford Fairbanks?
To live comfortably in Fairbanks, Minnesota, a minimum annual income of
$57,600 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Fairbanks?
The cost of living in Fairbanks, MN is relatively low compared to other cities in the United States. The median housing price is around $153,000, which is much lower than the national median, and groceries, health care and transportation costs are all generally lower than average. Additionally, the cost of utilities can be fairly low throughout most of the year due to the city’s cooler climate and lack of humidity. With a cost of living that’s around 10% lower than the national average, Fairbanks presents an excellent opportunity for those looking to live comfortably on a budget.