Fairbanks North Star Borough, Alaska Housing Market Prices
Fairbanks North Star Borough Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 4% above the Alaska median More expensive than 78% of counties in Alaska$332,425
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Median rent 3% above the Alaska median More expensive than 83% of counties in Alaska$1,458
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Fairbanks North Star Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,425 | $320,616 | $248,835 |
| Price Trend (Annual %) | 10.4% | 5.4% | 7.5% |
| Median Gross Rent | $1,458 | $1,418 | $1,407 |
| Rent Trend (Annual %) | 2.1% | 2.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fairbanks North Star Borough is about 4% higher than in Alaska. Rent is about 3% higher than the Alaska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fairbanks North Star Borough, up about 10.4% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Fairbanks North Star Borough rose about 20.1% between 2015 and 2024, from $1,215 to $1,458. Over the same span, rent in Alaska rose about 23.8%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Fairbanks North Star Borough.
Buying the median-priced home in Fairbanks North Star Borough costs roughly 19.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Fairbanks North Star Borough. The price-to-rent ratio in Alaska is about 18.8.
| Metric | Fairbanks North Star Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,425 | $320,616 | $248,835 |
| Median Household Income | $89,707 | $93,666 | $80,455 |
| Price-to-Income Ratio | 3.7 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fairbanks North Star Borough rose about 121.9%, while median household income rose about 32.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fairbanks North Star Borough | Alaska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.5% | 55.1% | 58.5% |
| Rental Rate | 32.7% | 27.3% | 31.2% |
| Vacancy Rate | 14.8% | 17.6% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Fairbanks North Star Borough has a homeownership rate of 52.5%, lower than the Alaska average of 55.1%. Its housing vacancy rate is 14.8%, compared with 17.6% in Alaska.
Housing Stock
| Metric | Fairbanks North Star Borough | Alaska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 4.8 | 4.8 | 5.5 |
The typical housing unit in Fairbanks North Star Borough was built around 1986. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 13.0 years on average.
Fairbanks North Star Borough, AK Housing Compared With Nearby Counties
How Fairbanks North Star Borough, AK compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Fairbanks North Star Borough, AK | 95,452 | $332,425 #1/2 | $1,458 #1/2 | 61.7% #2/2 |
| Matanuska-Susitna Borough, AK | 112,982 | $262,501 | $1,299 | 77.2% |
Frequently Asked Questions
Common questions about the housing market in Fairbanks North Star Borough, Alaska.
What is the median home price in Fairbanks North Star Borough, Alaska?
The median home price in Fairbanks North Star Borough, Alaska is $332,425, higher than the Alaska average of $320,616.
What is the average home price in Fairbanks North Star Borough, Alaska?
The typical home price in Fairbanks North Star Borough, Alaska, reported as the median sale price, is $332,425. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Fairbanks North Star Borough, Alaska?
The median gross rent in Fairbanks North Star Borough, Alaska is $1,458 per month, higher than the Alaska average of $1,418.
What was the median gross rent in Fairbanks North Star Borough in 2020?
In 2020, the median gross rent in Fairbanks North Star Borough, Alaska was $1,297 per month.
What is the price-to-rent ratio in Fairbanks North Star Borough, Alaska?
The price-to-rent ratio in Fairbanks North Star Borough, Alaska is about 19.0, meaning it would take roughly 19.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Fairbanks North Star Borough.
Are home prices or rent rising faster in Fairbanks North Star Borough, Alaska?
Both home prices and rent are rising in Fairbanks North Star Borough, up about 10.4% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fairbanks North Star Borough, Alaska?
52.5% of households in Fairbanks North Star Borough, Alaska own their home, lower than the Alaska average of 55.1%.
What is the vacancy rate in Fairbanks North Star Borough, Alaska?
The housing vacancy rate in Fairbanks North Star Borough, Alaska is 14.8%, lower than the Alaska average of 17.6%.
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