Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fairbanks, Alaska.
Pre-filled with Fairbanks median home price and Alaska tax/insurance rates. Adjust for your property.
Estimated closing costs based on Alaska rates and fees applied to Fairbanks prices.
The median home price in Fairbanks is $295,000, 16% below the Alaska state median of $350,000. With a population of 32,515, Fairbanks is a smaller market where home prices tend to be more accessible than in many parts of Alaska.
Property taxes in Alaska average 1.19% annually. This moderate property tax rate means a $295,000 home in Fairbanks would carry roughly $293/month in property taxes. Homeowners insurance in Alaska runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Fairbanks is $1,320/month. The price-to-rent ratio in Fairbanks is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Fairbanks presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.