Cost of living in Fairbanks, AK
93,972 people (Census 2025 estimate). Overall prices are 3.2% above the US average, with housing at 92.6 on BEA’s index (US = 100). A single renter on $60,000 keeps $1,259 a month after 2026 taxes and modeled costs.
Typical household budgets in Fairbanks, AK
Computed by MoveMath’s engine with 2026 tax law, HUD Fair Market Rent for the bedrooms each household needs, DOL 2022 childcare prices for Fairbanks North Star Borough, AK in current dollars, USDA Moderate-Cost food, one car per adult and $1,000 a month of other spending at US-average prices scaled by local price levels.
| Per month | Single, $60k | Couple + toddler, $110k | Family of four, $88,267 |
|---|---|---|---|
| Gross income | $5,000 | $9,167 | $7,356 |
| Taxes | $823 | $1,296 | $752 |
| Take-home pay | $4,177 | $7,871 | $6,603 |
| Housing | $1,187 | $1,553 | $1,553 |
| Childcare | $0 | $1,516 | $2,260 |
| Food | $473 | $1,061 | $1,377 |
| Transportation | $205 | $409 | $409 |
| Other goods & services | $1,053 | $1,053 | $1,053 |
| Left over | $1,259 | $2,279 | −$49 |
Family of four = two adults, a preschooler and a school-age child at the metro’s median household income ($88,267). Click a column to open it in the budget planner and change any input.
Price levels: Fairbanks, AK vs Alaska and the US
BEA Regional Price Parities, 2024. 100 = US average; bars compare the metro (dark) with Alaska statewide (light).
Within Alaska, Fairbanks, AK ranks 2nd of 2 metros on overall prices; the state as a whole is at 102.4. The dashed line marks the US average.
Rent and homeownership
| Unit | HUD Fair Market Rent | Income needed at 30% | Share of median income |
|---|---|---|---|
| Studio | $1,081 | $43,240 | 14.7% |
| 1-bedroom | $1,187 | $47,480 | 16.1% |
| 2-bedroom | $1,553 | $62,120 | 21.1% |
| 3-bedroom | $2,150 | $86,000 | 29.2% |
| 4-bedroom | $2,596 | $103,840 | 35.3% |
FY2027 FMRs for Fairbanks-College, AK MSA: 40th-percentile gross rent (rent + tenant-paid utilities) for standard-quality units. Census median gross rent, all unit sizes: $1,459 (ACS 2020-2024).
Childcare prices in Fairbanks North Star Borough, AK
| Age band | Center, weekly (2022) | Center, yearly today* | Home-based, weekly (2022) | Home-based, yearly today* |
|---|---|---|---|---|
| Infant (under 2) | $395 | $25,121 | $316 | $20,077 |
| Toddler (2) | $286 | $18,189 | $235 | $14,943 |
| Preschool (3–4) | $265 | $16,849 | $215 | $13,697 |
| School-age (5–12) | $162 | $10,268 | $163 | $10,341 |
DOL National Database of Childcare Prices, 2022 county medians for full-time care in Fairbanks North Star Borough, AK (the metro’s principal county). *52 weeks × 1.2224, the BLS CPI change for day care and preschool from the 2022 average to 2026-08.
Taxes: what you keep in Fairbanks
| Single filer, 2026 | $50,000 | $75,000 | $120,000 |
|---|---|---|---|
| Federal income tax | $3,820 | $7,670 | $17,570 |
| Social Security + Medicare | $3,825 | $5,738 | $9,180 |
| Alaska income tax | $0 | $0 | $0 |
| Alaska payroll taxes | $250 | $271 | $271 |
| Take-home pay / month | $3,509 | $5,110 | $7,748 |
| Share of pay to taxes | 15.8% | 18.2% | 22.5% |
No mandatory local income tax for residents of Fairbanks in our data. State sales tax: 0% (state rate only; local rates add on), groceries exempt.
Energy and fuel
EIA: electricity 2025, natural gas 2024, gasoline week ending 2026-10-05. Renters’ utilities are already inside gross rent.
Nearby metros
| Metro | Distance | Price level | 2-BR FMR | Single $60k left over |
|---|---|---|---|---|
| Fairbanks, AK | — | 103.2 | $1,553 | $1,259 |
| Anchorage, AK · compare | 258 mi | 105.4 | $1,529 | $1,277 (+$18) |
| Bellingham, WA · compare | 1444 mi | 103.3 | $1,872 | $865 (−$394) |
| Mount Vernon, WA · compare | 1468 mi | 102.4 | $1,668 | $1,119 (−$140) |
| Bremerton, WA · compare | 1511 mi | 105.6 | $1,967 | $859 (−$400) |
| Seattle, WA · compare | 1515 mi | 111.1 | $2,549 | $187 (−$1,072) |
| Olympia, WA · compare | 1538 mi | 103.7 | $1,946 | $738 (−$521) |
Frequently asked questions
Is Fairbanks, AK expensive to live in?+
BEA’s Regional Price Parities put overall prices in the Fairbanks, AK metro at 103.2 (US = 100) in 2024 — 3.2% above the national average and the 45th highest of 387 metros. Housing is 92.6, goods 107.3.
What salary do you need to live in Fairbanks, AK?+
A single renter earning $60,000 keeps $4,177 a month after 2026 taxes and has $1,259 left after rent at HUD Fair Market Rent, food, fuel, sales tax and other modeled costs. Use the cost of living calculator to find the salary that matches your current budget.
How much is rent in Fairbanks, AK?+
HUD’s FY2027 Fair Market Rent — the 40th-percentile gross rent including utilities — is $1,187 for a 1-bedroom and $1,553 for a 2-bedroom. The Census median gross rent for all units is $1,459.
Does Fairbanks have a local income tax?+
No mandatory local income tax applies to residents of Fairbanks in our 2026 data. Alaska state income tax does not apply to wages.