How much rent can you afford in Fairbanks, AK?
Run your salary against Fairbanks's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Fairbanks
At a median rent of $1,720/mo, Fairbanks is affordable when measured against Fairbanks median household income of $73,534/yr. Rent would consume roughly 28% of pre-tax income, and a salary of about $68,800 keeps rent at the recommended 30% threshold.
Frequently asked
How much rent can I afford in Fairbanks?
On a $73,534 salary (the Fairbanks median household income), the recommended ceiling is 30% of pre-tax income, or about $1,838/mo. Fairbanks's median rent is $1,720/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Fairbanks?
To keep Fairbanks's $1,720/mo median rent under 30% of income, you'd need about $68,800/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Fairbanks affordable on the median Alaska income?
Fairbanks is affordable on a $73,534 income. Rent would take 28% of pre-tax pay, inside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".