Fairbanks, AK Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2022-04-08
132
Fairbanks's Overall Cost Of Living
1.3x
Higher Than The National Average
16 out of 22
In Alaska
5,326 out of 6,412
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Fairbanks is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Fairbanks, AK?

According to the most recent data on the cost of living, Fairbanks has an overall cost of living index of 132 which is 1.3x higher than the national index of 100.

Compared to only Alaska, Fairbanks has a cost of living index that's 1.0x higher than Alaska's index of 127.

The standard of living in Fairbanks ranks as #5,329 most affordable out of the 6,418 places we measured in Alaska. By definition, that implies Fairbanks ranks as the #1,090 most expensive place in the Last Frontier.

For more reading on life in Fairbanks, check out:

Fairbanks Cost Of Living Vs. Alaska

Living Expense Fairbanks Alaska National Average
Overall 132 127 100
Services 118 112 100
Groceries 120 134 100
Health 156 150 100
Housing 117 136 100
Transportation 121 121 100
Utilities 218 150 100
For more reading on cost of living around Alaska, check out:
Fairbanks Cost of Living Vs. AK

Fairbanks, AK Housing Cost Breakdown

Housing swings affordability the most between places in Alaska, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$217,700
Median Home Value
$1,327
Median Rent
$64,397
Median Income
Statistic Fairbanks Alaska United States
Median Home Value $217,700 $275,600 $229,800
Median Rent $1,327 $1,240 $1,096
Median Income $64,397 $77,790 $64,994
Home Value To Income 3.4x 3.5x 3.5x
Rent To Monthly Income 0.25x 0.19x 0.2x

Detailed Fairbanks Services Costs Vs. Alaska

Item Fairbanks Alaska
Shampoo $1.06 $1.06
Movie $13.45 $10.68
Bowling $15.03 $14.67

Detailed Fairbanks Groceries Costs Vs. Alaska

Item Fairbanks Alaska
Ground Beef $5.31 $4.22
Fried Chicken $1.56 $1.39
Milk $2.57 $2.05

Detailed Fairbanks Health Costs Vs. Alaska

Item Fairbanks Alaska
Haircut $17.43 $18.62
Beauty Salon $48.7 $39.05
Toothpaste $2.55 $2.34

Detailed Fairbanks Transportation Costs Vs. Alaska

Item Fairbanks Alaska
Potatoes $3.83 $3.29
Pizza $11.99 $10.62
Beer $9.95 $9.38
Optometrist $250.97 $108.57
Doctor $211.78 $116.17
Dentist $153.1 $99.13

Detailed Fairbanks Utilities Costs Vs. Alaska

Item Fairbanks Alaska
Gasoline $2.86 $2.22
Tire Balancing $49.08 $50.07
All Electricity $516.42 $167.67
Phone $181.24 $175.64

Fairbanks SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
8.5
Affordability
5
Diversity
9.5
Safety
3
Amenities
8
Education
8
Commute
10

Cost Of Living In Cities Around Fairbanks

City Population Cost Of Living Vs. Fairbanks
Badger, AK 19,434 133 1.0x
College, AK 12,734 133 1.0x
Steele Creek, AK 7,365 135 1.0x
Chena Ridge, AK 5,863 134 1.0x
Farmers Loop, AK 5,089 128 1.0x

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