Rents are 6% below what Fairbanks's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,762 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Fairbanks, AK has changed in 5 years
Across the past five years, the going rent in Fairbanks, AK has shifted from $1,668 to $1,762, up 5.6% 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.
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Can you afford rent in Fairbanks on your salary?
At $1,762/mo, how Fairbanks rent compares to typical pay (30% rule).
Fairbanks rent by bedroom count
Median rent for each apartment size in Fairbanks. Click any size for full breakdown.
Tips for renters in Fairbanks
Last updated: August 17, 2026
The median rent in Fairbanks is $1,762/mo as of August 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 29% of local median household income ($73,534/yr), Fairbanks ranks as affordable compared to the national benchmark of 30%. Rents have decreased 3.5% over the past year.
Frequently asked questions
Is Fairbanks an affordable city for renters?
How much income do you need to rent in Fairbanks?
Is rent going up or down in Fairbanks?
How does Fairbanks rent compare to other cities in Alaska?
What percentage of Fairbanks residents rent vs. own?
How does Fairbanks rent compare to the national average?
At $1,762/mo, rent takes ~29% of Fairbanks's median household income ($73,534/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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