Cost of Living in Fairbanks, AK
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
119.4
100 = national avg
+19.4 vs national average
Living Wage (1 Adult)
$52,557
per year
Living Wage (Family of 4)
$124,225
per year
Cost Index by Category
Housing152.5
Food105.1
Transportation80.0
Healthcare104.1
Utilities113.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,277
per month
2 Bedroom
$1,676
per month
The overall cost of living index in Fairbanks is 119.4, which is 19.4% above the national average. Housing costs are above the national average at an index of 152.5. A single adult needs to earn approximately $52,557 per year to cover basic expenses.