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City Report · AK

Fairbanks

Pop. 32,083·4th most expensive in Alaska·Fairbanks rents have dropped 5.4%, currently a renter's market
Median rent (all units)
$1,720/mo
Year-over-Year
-5.4%
Month-over-Month
-0.8%
vs US Median
-$245
Falling (Monthly)
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Most AffordableMost Expensive
Fairbanks · $1,720
More affordable than 60% of US cities · National median $1,965/mo
Rent Reality Score
64/100
Good value
OverheatedFairGreat value

Rents are 7% below what Fairbanks's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,720/mo
Expected by trend
$1,851/mo
The Rent Reality Score compares today's median rent to where Fairbanks's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,010
1 BR
$1,130
2 BR
$1,490
3 BR
$2,090
4 BR+
$2,520
Research median
$1,490/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$20,640/yr
At $1,720/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 5.4% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-5.4% YoY, -0.8% MoM), not inventory.
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Demographics

Who lives here

Fairbanks, AK is majority renter-occupied, skews toward younger working-age adults, 26.2% of residents hold a bachelor's degree or higher.

Population
32,083
Median income
$73,534
Median age
29
Renters
60.2%
Age distribution
24.6%
36.8%
20.2%
Under 1824.6%
18–3436.8%
35–5420.2%
55–646.6%
65+11.9%
Gender
54.2%
45.8%
Male54.2%
Female45.8%
Race & ethnicity
57.7%
18.4%
White57.7%
Black8.4%
Hispanic11.3%
Asian4.2%
Other18.4%
Education (25+)
30.1%
37.8%
26.2%
No HS diploma5.9%
HS diploma30.1%
Some college37.8%
Bachelor's+26.2%
Housing tenure
39.8%
60.2%
Owner39.8%
Renter60.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Fairbanks, AK has changed in 5 years

Rent
$1,668 → $1,720
up 3.1%
Income
$66,572 → $73,534
up 10.5%
Population
33,018 → 32,083
down 2.8%
Renter share
62.3% → 60.2%
-2.1 pts
Bachelor's+
27.1% → 26.2%
-0.9 pts
Median age
28.2 → 29
+0.8 yrs

Across the past five years, the going rent in Fairbanks, AK has shifted from $1,668 to $1,720, up 3.1% since 2023. Household income in the area moved from $66,572 to $73,534 across the same window, up 10.5% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show Fairbanks, AK losing about 935 residents over the five-year window, down 2.8% on net. The renter share has eased from 62.3% to 60.2%, with owner-occupied housing accounting for the remainder. Reading these numbers side by side helps frame whether current listings in Fairbanks, AK look reasonable against where the market sat half a decade ago.

Community

Discussions about Fairbanks

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View Fairbanks rent history (2015–2026) →
Salary vs rent

Can you afford rent in Fairbanks on your salary?

At $1,720/mo, how Fairbanks rent compares to typical pay (30% rule).

By apartment size

Fairbanks rent by bedroom count

Median rent for each apartment size in Fairbanks. Click any size for full breakdown.

Local insights

Tips for renters in Fairbanks

About renting in Fairbanks, AK

Last updated: July 20, 2026

The median rent in Fairbanks is $1,720/mo as of July 2026. A studio apartment averages $1,010/mo while a 2-bedroom runs $1,490/mo. One-bedroom apartments average $1,130/mo and 3-bedroom units go for $2,090/mo.

At 28% of local median household income ($73,534/yr), Fairbanks ranks as affordable compared to the national benchmark of 30%. Rents have decreased 5.4% over the past year.

FAQ

Frequently asked questions

Is Fairbanks an affordable city for renters?

Fairbanks is considered affordable for renters. At $1,720/mo, rent takes approximately 28% of the local median household income ($73,534/yr). The standard benchmark is 30%. Fairbanks falls comfortably within that range.

How much income do you need to rent in Fairbanks?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (~$33/hour full-time) to afford the median rent of $1,720/mo in Fairbanks. The local median household income is $73,534/yr, meaning the typical Fairbanks household meets that threshold.

Is rent going up or down in Fairbanks?

Rent in Fairbanks has decreased 5.4% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Fairbanks rent compare to other cities in Alaska?

Fairbanks is one of the more affordable cities in Alaska for rent, ranking #4 out of 6 tracked cities at $1,720/mo.

What percentage of Fairbanks residents rent vs. own?

According to Census data, approximately 60.2% of Fairbanks households are renters, while 39.8% are owner-occupied. With a majority renter population, Fairbanks has a strong rental market.

How does Fairbanks rent compare to the national average?

Fairbanks's median rent of $1,720/mo is $245 (12%) below the US national median of $1,965/mo. Within Alaska, it ranks #4 out of 6 tracked cities.
Income Affordability
28%
AFFORDABLE

At $1,720/mo, rent takes ~28% of Fairbanks's median household income ($73,534/yr). The standard benchmark is 30%.

Fairbanks 28%Benchmark 30%
State income taxNone
Run the Fairbanks affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Fairbanks, AK

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