Fairbanks is located in Alaska and has an overall cost of living that is +23% compared to the national average. Understanding the full picture of living expenses — from housing and rent to grocery bills and healthcare — is essential when considering a move to Fairbanks.

Housing: Median rent in Fairbanks is $1,595 / month, and the median home price is $531,456. Housing costs are -0% compared to the national average, which significantly impacts monthly budgets.

Groceries: Daily essentials like bread ($5.05), milk ($5.85), and eggs ($5.78) reflect the local grocery landscape. Overall grocery costs are +23% vs the national average.

Healthcare: Medical costs include doctor visits ($207.67), dentist visits ($166.82), and prescription drugs ($30.06). These costs should be factored into your monthly budget when planning a move.

Alaska has no state income tax, which means residents of Fairbanks keep more of their earnings. This is especially beneficial for high-income earners and retirees.

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Fairbanks, Alaska Cost of Living FAQ

Common questions about living costs in Fairbanks.

Fairbanks, Alaska has an overall cost of living that is +23% the national average. Housing costs are -0% vs the national average. Grocery prices are +23% vs average. Utilities are +112% vs average. This makes Fairbanks a relatively expensive city.

The median rent in Fairbanks, Alaska is $1,595 / month. Average energy bills run $467.12 / month. Phone bills average $416.72 / month. Housing is typically the largest expense for residents.

Healthcare costs in Fairbanks: doctor's visit averages $207.67, dentist visit averages $166.82, prescription drugs average $30.06. Overall healthcare expenses in the area are influenced by the +23% grocery cost difference.

Fairbanks is one of 17 cities tracked in Alaska. With an overall cost +23% vs the national average, it tends to be pricier than some smaller communities. Visit our Alaska state page to compare all cities side-by-side and find the best fit for your budget.

Fairbanks offers cost of living +23% compared to the national average. Key factors to consider: median home price of $531,456, rent of $1,595 / month, and no state income tax in Alaska. Explore our detailed cost breakdown above to see if Fairbanks fits your budget.