Fairbanks, AK
Population 32,242 · Alaska
About Fairbanks, AK
Fairbanks is a mid-sized city located in Alaska with a population of 32,242 residents according to the latest US Census Bureau American Community Survey data. The median household income is $72,077 per year, which is 4% below the national median of $75,149. The median age of 28.6 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Fairbanks features a median home value of $255,700, which is 4% above the national median of $244,900. This positions Fairbanks in a moderately priced market relative to the rest of the country. Median monthly rent is $1,470, 26% above the national average of $1,163/month. Of the 13,924 total housing units, 40% are owner-occupied (4,941 units) and 60% are renter-occupied (7,262 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Fairbanks shows an unemployment rate of 5.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 9.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Fairbanks have an average one-way commute time of 14.1 minutes, one of the shorter commutes in the region.
Education & Demographics
26.5% of Fairbanks residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 6.6% White, 14.3% Hispanic or Latino, 2.0% Black or African American, and 1.9% Asian residents, with 6.8% of the population being foreign-born.
Climate & Weather
Fairbanks experiences an annual average temperature of 30.9°F with 17.2" of precipitation per year. The cooler climate brings distinct seasons, including snowy winters that appeal to those who enjoy four-season living. Summer highs average around 72°F (July–August), while winter lows dip to approximately -4°F (December–January).
How Fairbanks Ranks in Alaska
Cost of Living in Fairbanks, AK
Compared to national averages, Fairbanks has a median household income of $72,077 (4% below the national median of $75,149). Home values average $255,700, which is 4% above the national median. Monthly rent at $1,470 is 26% above the US average of $1,163. Within Alaska, Fairbanks's income is 6% above the state average of $67,815, and home values are 26% above the state median of $203,729.
Why Live in Fairbanks, AK?
Fairbanks offers a low poverty rate of 9.6%, better than the national average, and short commute times averaging just 14.1 minutes.
Potential considerations include median household income ($72,077) that falls below the national average. However, Fairbanks’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fairbanks has a population of 32,242 with a median age of 28.6 years. Compare Fairbanks with other cities to see how it stacks up, or explore all cities in Alaska.
Similar Cities Near Fairbanks
Cities in Alaska with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Juneau city and | 31,969 | $100,513 | $432,500 | Compare |
| Badger | 19,033 | $98,042 | $291,600 | Compare |
| Knik-Fairview | 18,921 | $95,000 | $311,800 | Compare |
| College | 11,730 | $76,831 | $279,100 | Compare |
| North Lakes | 10,583 | $102,785 | $338,900 | Compare |
| Tanaina | 9,738 | $95,587 | $298,500 | Compare |
| Wasilla | 9,435 | $70,756 | $325,000 | Compare |
| Meadow Lakes | 8,994 | $81,250 | $305,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Climate & Weather in Fairbanks
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 10 | 11 | 25 | 32 | 59 | 69 | 75 | 68 | 50 | 33 | 24 | 7 |
| Low °F | -1 | -2 | 7 | 14 | 38 | 50 | 58 | 53 | 37 | 23 | 14 | -6 |
| Rain " | 1.1 | 1.1 | 0.5 | 0.9 | 1.5 | 2.3 | 2.0 | 3.1 | 1.6 | 1.3 | 0.6 | 1.1 |
Other Cities in Alaska
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Fairbanks With Other Cities
Frequently Asked Questions about Fairbanks
What is the population of Fairbanks, AK?
The population of Fairbanks, AK is 32,242 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Alaska.
What is the median household income in Fairbanks?
The median household income in Fairbanks, AK is $72,077 per year, which is 4% below the national median of $75,149.
What is the median home value in Fairbanks?
The median home value in Fairbanks, AK is $255,700, which is 4% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Fairbanks?
The median monthly rent in Fairbanks, AK is $1,470, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Fairbanks?
The unemployment rate in Fairbanks, AK is 5.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Fairbanks, AK a good place to live?
Fairbanks offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 32,242 and a median age of 28.6, the city appeals to young professionals and families.
How educated is Fairbanks, AK?
26.5% of residents in Fairbanks aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Fairbanks?
Key cost-of-living indicators for Fairbanks, AK: median home value is $255,700 (4% above national), median rent is $1,470/month, and median household income is $72,077. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Fairbanks?
The poverty rate in Fairbanks, AK is 9.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Fairbanks, AK?
Fairbanks's population is 6.6% White, 14.3% Hispanic or Latino, 2.0% Black or African American, 1.9% Asian, and 7.3% two or more races. 6.8% of residents are foreign-born.