Cost of Living in Fairbanks, Alaska
Rent, everyday costs and taxes in Fairbanks, what each job keeps after paying them, and how the city compares with the rest of the US.
- Population
- 31,468
- Median household income
- $73,534
- Cost of living (US = 100)
- 103.2
- Unemployment rate
- 5.7%
Is Fairbanks a good place to live?
Fairbanks is a good place to live if you want your pay to go further: a typical worker keeps more here than in 161 of the 178 other large US cities we track.
A typical worker in Fairbanks keeps $12,060 a year after taxes, rent and everyday costs. Try your job
- Cost of living3% above the US average (BEA, 2024)
- Rent$1,691 a month for a 1-bedroom (HUD)
- TaxesNo state income tax on wages
Cost of living in Fairbanks
Prices in the Fairbanks-College, AK area run 3% above the US average. Utilities is the biggest difference, at 20% above the US average.
- Housing7% below the US average
- Goods (food, clothing, cars)7% above the US average
- Utilities20% above the US average
- Other services (healthcare and more)3% above the US average
- All items3% above the US average
Monthly budget for one person
| Cost | Monthly | Yearly |
|---|---|---|
| Rent, 1-bedroom | $1,691 | $20,292 |
| Food | $530 | $6,360 |
| Transportation | $419 | $5,028 |
| Healthcare | $364 | $4,368 |
| Utilities | $312 | $3,744 |
| Total before taxes | $3,316 | $39,792 |
Rent by apartment size
| Monthly rent | Fairbanks | Whole metro area |
|---|---|---|
| Studio | $1,544 | $1,081 |
| 1 bedroom | $1,691 | $1,187 |
| 2 bedrooms | $2,213 | $1,553 |
| 3 bedrooms | $3,068 | $2,150 |
| 4 bedrooms | $3,698 | $2,596 |
Living in Fairbanks
How Fairbanks compares with the US on income, housing, work and commuting (Census Bureau, ACS 2020–2024 5-year).
| Measure | Fairbanks | US |
|---|---|---|
| Median household income | $73,534 | $81,604 |
| Median home value | $268,400 | $360,600 |
| Median rent paid | $1,496 | $1,487 |
| Households renting | 60.2% | 34.7% |
| Unemployment rate | 5.7% | 4.6% |
| Living below the poverty line | 8.7% | 12.2% |
| Adults with a bachelor's degree or higher | 26.3% | 36.9% |
| Median age | 29 years | 39.2 years |
| Average commute, one way | 14.5 minutes | 27.2 minutes |
| Working from home | 5.3% | 13.3% |
| Commuting by public transit | 1.1% | 3.7% |
Home internet
3 providers offer home internet to at least a quarter of Fairbanks, led by SPITwSPOTS Inc, GCI Communication Corp., Alaska Communications. Fiber reaches 26.3% of homes and 25.9% can get gigabit speeds.
Pros and cons of living in Fairbanks
Pros
- Shorter commutes. The average one-way commute is 14.5 minutes, against 27.2 nationally.
- Paychecks go further. A typical worker keeps $12,060 a year after taxes, rent and everyday costs, more than in 161 of 178 large cities.
- No state income tax. Alaska doesn't tax wages, so more of each paycheck stays with you.
- Affordable homes to buy. The median home is worth $268,400, against $360,600 nationally.
Cons
- Higher unemployment. Unemployment is 5.7%, against 4.6% nationally (ACS 2020–2024 5-year).
- Patchy fast internet. Only 25.9% of homes can get gigabit speeds (FCC).
- Higher cost of living. Prices are 3% above the US average (BEA, 2024).
What your job keeps in Fairbanks
Pick a job, or enter your salary, to see what's left after federal, payroll, state and local taxes, a 1-bedroom rent and everyday costs.
- Typical salary
- $61,810
- Federal income tax
- −$5,237
- Payroll taxes
- −$4,728
- State income tax
- $0
- Rent, 1-bedroom
- −$20,292
- Everyday costs
- −$19,493
a year, or $1,005 a month
Pay: BLS OEWS Fairbanks-College, AK. Rent: HUD FY2027. Taxes: 2026 federal, state and local schedules for a single filer.
What the most common jobs keep here
The 10 jobs we cover with the most workers in the Fairbanks-College, AK area.
| Job | Median pay | You keep |
|---|---|---|
| Civil engineer | $111,080 | $47,189 |
| Project manager | $103,530 | $41,878 |
| Electrician | $97,860 | $37,890 |
| Plumber | $96,670 | $37,053 |
| Carpenter | $84,970 | $28,822 |
| Accountant | $82,500 | $27,084 |
| Teacher | $78,937 | $24,577 |
| Truck driver | $76,560 | $22,905 |
| Auto mechanic | $61,060 | $11,457 |
| Medical assistant | $52,140 | $4,289 |
Other jobs, A–Z
What each keeps in Fairbanks on its median pay. Pick one in the calculator above for the full breakdown.
- Data scientist $28,217
- Dental assistant $8,042
- Dental hygienist $61,608
- Dentist $130,917
- Diesel mechanic $20,380
- Financial analyst $40,971
- Firefighter $9,665
- HVAC technician $35,048
- Lawyer $60,104
- Licensed practical nurse $25,888
- Lineman $62,537
- Mechanical engineer $55,388
- Nurse practitioner $70,110
- Nursing assistant −$346
- Occupational therapist $42,103
- Paralegal $19,268
- Paramedic $19,599
- Pharmacist $89,958
- Pharmacy technician $7,270
- Physical therapist $48,942
- Physician assistant $84,197
- Police officer $43,173
- Radiologic technologist $38,636
- Registered nurse $46,064
- Respiratory therapist $37,953
- Social worker $14,488
- Software engineer $40,282
- Speech-language pathologist $45,515
- Welder $25,473
Compare Fairbanks with other cities
Compare Fairbanks with another city: any city or state, any of our 40 jobs.
Moving to Fairbanks
5 licensed interstate movers are based in Fairbanks (FMCSA, household-goods authority).
Questions people ask
Is Fairbanks, AK a good place to live?
Fairbanks is a good place to live if you want your pay to go further: a typical worker keeps more here than in 161 of the 178 other large US cities we track. The typical worker here earns $61,810 and keeps $12,060 a year after federal, payroll and state taxes, a 1-bedroom rent and everyday costs.
What is the cost of living in Fairbanks?
Prices in the Fairbanks-College, AK area are 3% above the US average (BEA Regional Price Parities, 2024). A 1-bedroom rents for $1,691 a month (HUD fair market rent, FY2027), and everyday costs for one person, covering food, transportation, healthcare and utilities, come to about $1,624 a month.
How much do you need to earn to live in Fairbanks?
A single person renting a 1-bedroom alone needs about $46,900 a year before tax to cover taxes, rent and everyday costs, with nothing left over. The typical worker in the Fairbanks-College, AK area earns $61,810.
What is the average rent in Fairbanks?
HUD's fair market rent for FY2027 is $1,544 for a studio, $1,691 for a 1-bedroom and $2,213 for a 2-bedroom. The Census Bureau puts the median rent paid in Fairbanks at $1,496 a month (2024).
Does Fairbanks have a state or city income tax?
Alaska has no state income tax on wages. Fairbanks has no local income tax on wages.
What internet providers serve Fairbanks?
3 providers offer home internet to at least a quarter of Fairbanks, led by SPITwSPOTS Inc, GCI Communication Corp., Alaska Communications. 26.3% of homes can get fiber and 25.9% can get gigabit speeds (FCC National Broadband Map).
Sources and method
Everyday costs: BLS Consumer Expenditure Survey 2024 (one-person households) × CPI-U to August 2026 × BEA Regional Price Parities 2024. Taxes assume a single filer with the standard deduction and wage income only.
- Census Bureau, Vintage 2025 population estimates
- Census Bureau, American Community Survey 2020-2024 5-year estimates
- BLS OEWS May 2025, metropolitan area estimates
- HUD Small Area Fair Market Rents, FY2027
- BLS Consumer Expenditure Surveys 2024, Table 1400 (size of consumer unit)
- BLS Consumer Price Index (CPI-U)
- BEA Regional Price Parities by MSA, 2024
- FCC National Broadband Map, fixed broadband availability (data as of December 31, 2025, released 2026-09-29)
- FMCSA Carrier - All With History (operating authority and insurance)
Data compiled October 13, 2026. How we calculate