Fairbanks, Alaska Income Statistics
Fairbanks Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Fairbanks Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Fairbanks | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,614 | $93,666 | $80,455 |
| Median Personal Income | $57,775 | $68,716 | $60,758 |
| Average Yearly Income Growth | 3.6% | 2.9% | 4.8% |
| Six-Figure Earners | 9.6% | 16.8% | 13.9% |
| $200k+ Households | 5.5% | 14.6% | 13.2% |
The median household income in Fairbanks is about 21% lower than in Alaska. Income has been growing faster in Fairbanks (3.6%/yr) than in Alaska (2.9%/yr).
About 10% of adults in Fairbanks earn six figures ($100,000 or more) a year, lower than the Alaska average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Fairbanks, Alaska grew by 47.6% from 2009 to 2024, reaching $73,614 in 2024. That's an average of about 3.6% per year.
Income Inequality and the Gender Pay Gap in Fairbanks
| Metric | Fairbanks | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.485 | 0.527 | 0.552 |
| Male Median Income | $64,804 | $76,032 | $69,667 |
| Female Median Income | $57,285 | $65,882 | $56,850 |
| Gender Pay Gap | 11.6% | 13.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Fairbanks, it is 0.485, lower than Alaska's 0.527, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 13% more than women's income in Fairbanks, Alaska. Over a 35-year career, a 13% wage gap accumulates to roughly $263,165 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fairbanks, Alaska has widened from about 9% to 12% in 2024. Over that period the gap was widest at 22% in 2023. In dollar terms, the gap has widened by $3,557 since 2009.
Sharply against the trend: the pay gap in Fairbanks widened by 2.4 points while Alaska's narrowed by 9.9 points.
Employment
| Metric | Fairbanks | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.5% | 5.2% |
| Working from Home | 6.3% | 9.7% | 15.0% |
| Commute time (minutes) | 13 | 16 | 22 |
Approximately 561 people are unemployed in Fairbanks, Alaska.
The average commute time in Fairbanks is 13 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fairbanks, Alaska has fallen from 7.3% to 4.9% in 2024. Over that period the rate peaked at 10.1% in 2015.
Conclusion
Considering all these factors, Fairbanks, Alaska has an overall wealth index grade of C, making it somewhat worse than Alaska, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fairbanks, Alaska.
How Rich Is Fairbanks, Alaska?
Fairbanks has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $73,614, about 21% lower than the Alaska average of $93,666.
How fast is household income rising in Fairbanks, Alaska?
Between 2009 and 2024, the median household income in Fairbanks, Alaska rose 48%, from $49,891 to $73,614. Over the same years, income here outpaced Alaska as a whole: +48% against +43%.
What was the median household income in Fairbanks in 2023?
In 2023, the median household income in Fairbanks, Alaska was $71,675, up 7% from $67,147 in 2022. The Alaska median that year was $90,366.
What was the median household income in Fairbanks in 2020?
In 2020, the median household income in Fairbanks, Alaska was $66,232. By 2024 it had risen 11% to $73,614.
What is the Gini coefficient in Fairbanks, Alaska?
The Gini coefficient in Fairbanks is 0.485. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Fairbanks, Alaska?
Since 2009, the income gap between men and women in Fairbanks, Alaska has widened from about 9% to 12% in 2024. Over that period the gap was widest at 22% in 2023. In dollar terms, the gap has widened by $3,557 since 2009.
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