Fairbanks-College cost of living
Prices in the Fairbanks-College, AK metro area run at 103.2 against a national average of 100, ranking it #45 of 387 metros. Rents there sit at 92.6.
What drives the number
Prices in Fairbanks-College run at 103.2 where the national average is 100, so about 3.2 per cent above the country as a whole. It ranks #45 of 387 metro areas. Against Alaska as a whole it is 0.8 points more expensive, which is the usual direction: cities cost more than the states around them.
Housing is unusually cheap relative to everything else here. Rents sit at 92.6 against goods at 107.3 and other services at 119.8, so the overall figure of 103.2 understates how affordable the housing itself is. That combination, ordinary prices with cheap rent, is what people are usually looking for and rarely find. Goods at 107.3 are themselves 7.3 points off national, which is a wide gap for a category that is mostly shipped in.
A salary offer here is worth less than the same offer somewhere at 100, and the parity is the arithmetic that says by how much. Divide the offer by 103.2 and multiply by 100 to get the nationally comparable figure.
The vertical line is the national average of 100. Source: U.S. Bureau of Economic Analysis, Regional Price Parities, SARPP, 2024.
What the biggest local jobs are really worth
The same pay buys different amounts in different places, so a salary quoted in Fairbanks-College is not comparable to one quoted elsewhere until it is divided by the local parity. These are the occupations that employ the most people here, with the quoted median alongside what that median is worth at national prices.
| Occupation | Employed | Median pay | Worth nationally | U.S. median |
|---|---|---|---|---|
| Retail Salespersons | 1,060 | $37,050 | $35,901 | $34,580 |
| Stockers and Order Fillers | 820 | $39,200 | $37,984 | $37,090 |
| Registered Nurses | 720 | $102,660 | $99,477 | $93,600 |
| Cashiers | 690 | $36,640 | $35,504 | $31,190 |
| General and Operations Managers | 630 | $110,560 | $107,132 | $102,950 |
| Fast Food and Counter Workers | 610 | $30,390 | $29,448 | $30,480 |
| Heavy and Tractor-Trailer Truck Drivers | 610 | $73,540 | $71,260 | $57,440 |
| Home Health and Personal Care Aides | 580 | $40,130 | $38,886 | $34,900 |
Pay from the BLS metro survey, adjusted by dividing by the metro parity of 103.2.
Nearby metro areas
| Metro area | All items | Rents | Rank |
|---|---|---|---|
| Anchorage | 105.4 | 109.9 | #27 |
Fairbanks-College: common questions
Is Fairbanks-College expensive?
Prices are 3.2% above the national average, a parity of 103.2 where the country is 100. It ranks #45 of the 387 metro areas BEA measures. Against Alaska as a whole it is 0.8 points more expensive.
What salary do you need in Fairbanks-College?
The median worker there earns $58,820, which buys what $56,996 buys nationally once local prices are taken into account. Comparing a salary offer between cities without this adjustment is comparing nothing useful.
Is housing the reason?
Usually. Rents here are at 92.6 against goods at 107.3. Goods barely vary between American cities because most are shipped and priced nationally; housing varies enormously, and it dominates any cost of living comparison.