Fairbanks, AK—99701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairbanks, AK
As of Oct '25, the median home price in Fairbanks, AK is $251,000, with a year-over-year change of 0.6%. This indicates that home prices in Fairbanks, AK are flat. According to Zillow, the 1-year price projection is -1.8%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $251,000 | 0.6% |
| Single Family | $271,000 | 0.0% |
| Condos | $171,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $144,000 | -2.0% |
2 Bed | $189,000 | -2.6% |
3 Bed | $296,000 | 0.3% |
4 Bed | $346,000 | -2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fairbanks, AK
As of July '25, Rentcast reports the average rent in Fairbanks, AK is $1,620, with a year-over-year rent change of -2.4%. Per bedroom, the median rent as of July '25 in Fairbanks, AK is studios: $1,170, 1-bedrooms: $1,250, 2-bedrooms: $1,670, 3-bedrooms: $2,290, 4-bedrooms: $2,600. The most common rental property sizes in Fairbanks, AK are 2-bedroom and 1-bedroom, accounting for 35.1% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,620 |
| Studio Rent | $1,200 | $1,170 |
| 1 Bed Rent | $1,250 | $1,250 |
| 2 Bed Rent | $1,600 | $1,670 |
| 3 Bed Rent | $2,150 | $2,290 |
| 4 Bed Rent | $2,600 | $2,600 |
% of Rental Stock
Property Listings — Fairbanks, AK
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairbanks, AK is 79. This is a increase of 17.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $283,000 | 23.0% |
Listing Count | 42 | 26.0% |
| Listings as % of Homes | 0.1% | 26.0% |
Days on Market | 79 | 17.0% |
Demographics — Fairbanks, AK
As of the latest ACS Survey released in 2023, Fairbanks, AK has a population of 17,600, which has remained stable by 0.3% over the past 5 years. Fairbanks, AK is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 24.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | 0.3% |
% Under 18 | 23.1% | 9.5% |
% Seniors | 14.3% | 36.2% |
% WFH | 6.1% | 190.5% |
% w/ College Degree | 24.8% | -3.5% |
As of the latest ACS Survey released in 2023, Fairbanks, AK is a predominantly white area, with 58.9% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Fairbanks, AK is hispanic, making up 6.9% of the population. Foreign-born residents account for 6.6% of the population in Fairbanks, AK, and this percentage has increased by 6.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 58.9% | 0.7% |
% Black | 5.2% | -27.8% |
% Hispanic | 6.9% | -5.5% |
% Asian | 5.5% | 48.6% |
% Foreign Born | 6.6% | 6.5% |
Mortgage and Risk — Fairbanks, AK
According to HUD data as of 2023, there were 193 mortgage originations in Fairbanks, AK, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Fairbanks, AK. Investor activity is low, as 7.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 193 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Fairbanks, AK
As of 2024, the percent of homes in Fairbanks, AK under the Section 8 program is 11.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Fairbanks, AK, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 673 |
Total Units Section 8 | 475 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 89.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,250 | $1,130 |
| 2 Bedroom | -$110 | $1,600 | $1,490 |
| 3 Bedroom | -$60 | $2,150 | $2,090 |
| 4 Bedroom | -$80 | $2,600 | $2,520 |
Affordability — Fairbanks, AK
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $251,000 |
| Median Household Income | $73,600 |