Cost of Living in Fairbanks, AK
Fairbanks-College, AK — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Fairbanks, AK to keep the same lifestyle — after taxes — as in another city?
How expensive is Fairbanks, AK?
With a price level of 103.2 (U.S. average = 100), Fairbanks, AK is more expensive than average. In detail, housing costs are 7% below average; everyday goods run 7% above average; utilities run 20% above average; other services such as healthcare and dining run 3% above average. The biggest difference from the national average is in utilities.
Prices in Fairbanks, AK vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 103.2 | +3.2% |
| Housing | 92.6 | −7.4% |
| Goods | 107.3 | +7.3% |
| Utilities | 119.8 | +19.8% |
| Other services | 103.3 | +3.3% |
Source: BEA Regional Price Parities, 2024.
Rent in Fairbanks, AK
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $1,156 | $46,240/yr |
| 1 bedroom | $1,277 | $51,080/yr |
| 2 bedrooms | $1,676 | $67,040/yr |
| 3 bedrooms | $2,331 | $93,240/yr |
| 4 bedrooms | $2,812 | $112,480/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Salary needed to live in Fairbanks, AK
To keep the same standard of living as in an average-priced U.S. city, you would need to earn roughly:
| Salary in an average U.S. city | Equivalent in Fairbanks, AK | Take-home here |
|---|---|---|
| $40,000 | $41,300 | $35,365 |
| $60,000 | $61,900 | $51,917 |
| $80,000 | $82,600 | $66,939 |
| $100,000 | $103,200 | $81,431 |
| $150,000 | $154,800 | $117,072 |
Scaled by the BEA price level (pre-tax). Take-home: single filer, Alaska 2026 taxes. For a tax-aware comparison with a specific city, use the calculator above.
A monthly budget on the median wage
A single worker earning Fairbanks, AK's median wage of $61,810 takes home about $4,320 a month. A typical one-bedroom rents for $1,277, which is 30% of take-home pay — within the 30% guideline that financial planners suggest. That leaves about $3,043 a month for everything else.
Take-home pay in Fairbanks, AK
- Federal income tax$5,237
- Social Security (6.2%)$3,832
- Medicare (1.45%)$896
- Alaska income tax$0
- Take-home pay$51,844
Marginal rate: 12% federal + 0.00% state
Pay and living costs in Alaska cities
Half of Alaska’s 325,570 workers earn less than $61,000 a year and half earn more; the middle 50% earn $43,470–$92,910 (BLS, May 2025). Prices vary a lot within the state: Fairbanks, AK stretches a paycheck furthest, while Anchorage, AK is the costliest.
| Metro area | Median pay | Price level | 1-BR rent | Rent share | Left after rent / mo | Buying power* |
|---|---|---|---|---|---|---|
| Anchorage, AK | $60,200 | 105.4 | $1,190 | 28% | $3,023 | $47,952 |
| Fairbanks, AK | $61,810 | 103.2 | $1,277 | 30% | $3,043 | $50,233 |
*Yearly take-home pay (on each metro’s median wage, single filer) in U.S.-average dollars. Price level: BEA RPP 2024 (U.S. = 100). Rent: HUD FY2026 one-bedroom fair market rent.
Fairbanks, AK vs. similar-size cities
| Metro area | Price level | 1-BR rent | Median wage | Jobs |
|---|---|---|---|---|
| Fairbanks, AK | 103.2 | $1,277 | $61,810 | 36,430 |
| Great Falls, MT | 96.8 | $979 | $46,510 | 36,510 |
| Parkersburg, WV | 87.1 | $745 | $42,000 | 36,280 |
| Weirton, WV | 89.0 | $757 | $45,840 | 36,220 |
| Homosassa Springs, FL | 93.5 | $988 | $41,360 | 35,580 |
| Midland, MI | 91.9 | $925 | $49,340 | 37,300 |
| Kokomo, IN | 89.6 | $890 | $48,980 | 35,500 |
Frequently asked questions
Is Fairbanks, AK expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Fairbanks-College, AK metro area are 103.2% of the U.S. average, with housing at 92.6%. It is the #45 most expensive of 387 metro areas we track.
What salary do you need to live in Fairbanks, AK?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $61,925 in Fairbanks, AK (before tax differences). The median wage across all jobs here is $61,810.
Can you afford Fairbanks, AK on the median wage?
A single worker on the $61,810 median wage takes home about $4,320 a month after 2026 taxes; a one-bedroom at $1,277 would take 30% of that.
How much is rent in Fairbanks, AK?
HUD’s FY2026 fair market rents for Fairbanks, AK are $1,156 for a studio, $1,277 for one bedroom, $1,676 for two bedrooms and $2,331 for three bedrooms, including utilities.