What it's like to live in Fairbanks
Fairbanks is a small city in Alaska with home prices that remain within reach and commutes that run shorter than most cities. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Fairbanks deals with crime rates above the national average, air quality that falls short of national benchmarks, a population that has been shrinking, and hospital ratings below the national average.
The good
- Affordable home prices
- Short commutes
The not so good
- Crime above national average
- Air quality concerns
- Shrinking population
- Below-average hospital ratings
- High student-teacher ratio
- Brutally cold winters
How Fairbanks compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Fairbanks
Based on Fairbanks's median rent, home value and household income
To rent
$2,992
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $59,840 a year
- 47% of Fairbanks renters spend 30% or more of their income on rent
To buy
$53,680
a 20% down payment on the median home
- With 10% down: $26,840
- Homes cost 3.7× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of livingNear US average
$1,496/mo median rent
Rent is pretty middle of the road, at $1,496 a month median. Not a bargain, not a budget-buster. About typical for a city this size. Home prices are reasonable, with a median around $268,400. Not a steal, but not intimidating either.
Median home value $268,400 · 47% of renters cost-burdened
Job marketNear US average
4.5% unemployment
Unemployment here is 4.5%, close to the national average of 4.3%.
City-level (BLS)
Safety▲ 156% above US
843 violent crimes per 100k
Crime is a real factor here, with violent rates significantly above the national average. That doesn't make the whole city a write-off, but it does mean specific neighborhoods deserve real research before signing a lease.
Property crime 3026/100k · Fairbanks Police Department · 2025 data
Getting around▼ 44% below US
15 min average commute
Commutes run short here, averaging 14.5 minutes. That's an underrated perk of living in a smaller or well-planned city, where time isn't lost sitting in traffic. 8 in 10 workers drive to work; 5% work from home.
How workers get to work
Climate
Summers are comfortable, with highs around 70°F, and winters are cold and harsh, with lows dropping to -11°F. It's a dry climate with limited rainfall.
Average month
30-year averages, 1991–2020
Healthcare
2 hospitals
There are 2 Medicare-certified hospitals inside city limits. They average 2.0 out of 5 on Medicare's star rating.
Medicare-certified hospitals
Education & workforce▼ 27% below US
26% bachelor's degree or higher
College degree attainment runs below average at 26%. That tends to reflect a more trade and working-class economy, which can be great or limiting depending on the industry.
Schools
15 public schools inside the boundary
There are 15 public schools inside the boundary and 4 private schools. The student-to-teacher ratio is 21:1, above the national average of 16:1.
Bottom line
Fairbanks's strongest points are home prices that remain within reach and commutes that run shorter than most cities; the main tradeoffs are crime rates above the national average and air quality that falls short of national benchmarks. A year of median rent ($1,496/mo) equals 24% of the median household income here, more than the 21% typical nationwide. It tends to suit people who want short commutes. It may be a harder fit for anyone who doesn't drive and anyone who dislikes long, cold winters.
Other places near Fairbanks
All Alaska guides →Moving to North Lakes →
227 mi away · pop. 10,223
Rent $1,441/mo · Income $101,679
Compare with Fairbanks →Moving to Knik-Fairview →
237 mi away · pop. 19,972
Rent $1,588/mo · Income $96,437
Compare with Fairbanks →Not sure Fairbanks is the one?
Put it side by side with another city.