Median Age
31 Years
Largest Age Group
25-34 Years
Approximately 24% of Residents
Under 20
25%
Over 65
12%
Area Guide
Avg Rent
$1,317
Population
34,371
Renter Mix
64% Rent
Fairbanks sits deep in Alaska's interior, where the Chena River winds through a city that serves as the beating hub of the entire region above the 64th parallel. Known as Alaska's Golden Heart City, it is the state's second-largest city and a key supply and service center tied to Fort Wainwright, Eielson Air Force Base, and the University of Alaska Fairbanks. That institutional backbone gives the local economy a steady pulse that few cities of this size can match. The aurora borealis graces the sky roughly 200 nights a year, and summer brings the surreal stretch of the midnight sun—details that shape daily rhythms here in ways that simply don't exist anywhere else in the country.
Neighborhoods range from the historic downtown core along the Chena Riverwalk to the quieter hillside streets of Chena Ridge and the campus-adjacent areas near UAF. Renters can choose from apartment communities, townhomes, and single-family rentals spread across a compact, 33-square-mile footprint. The World Ice Art Championships and the Tanana Valley State Fair reflect the strong sense of community that anchors life here year-round. Whether you're drawn by academic pursuits, a military assignment, or simply the pull of Alaska itself, Fairbanks offers a grounded, self-sufficient lifestyle unlike anything in the Lower 48.
The spectacular Northern Lights over Fairbanks
A dazzling sunset over the Tanana River
Fairbanks residents enjoy a rugged mountain landscape
The elevated hiking trail through Creamer's Field boreal forest
Median Household Income
$65,611
Average: $81,029
Education
7,624
Residents Have a Degree
Job Market
13,419
Workers Employed
Median Age
31 Years
Largest Age Group
25-34 Years
Approximately 24% of Residents
Under 20
25%
Over 65
12%
Housing Distribution
Fairbanks has more renters than homeowners.
Education Distribution
Review this city's overall education levels.
As of July 2026, the average apartment rent in Fairbanks, AK is $880 for a studio, $1,319 for one bedroom, $1,580 for two bedrooms, and $2,250 for three bedrooms. Apartment rent in Fairbanks has increased by 1.4% in the past year.
The cost of living in Fairbanks, AK is 22.9% higher than the national average. Generally, housing in Fairbanks is 0.9% more expensive than the national average, with rent falling between $880 - $2,250. You can expect to pay 23.9% more for groceries, 109.0% more for utilities, and 19.5% more for transportation.
Compare Cities
Explore how walkable, bikeable, drivable, and transit-friendly Fairbanks, AK is for everyday living.
Fairly Walkable
Walkability
Limited Public Transit
Transit
Exceptionally Drivable
Drivability
Fairly Bikeable
Bikeability
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200 Students
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Grades PK-8
67 Students
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467 Students
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413 Students
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906 Students
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356 Students
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Public
Grades 6-12
139 Students
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© 2026. All rights reserved.
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.