Fairbanks, AK—99709
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 $298,000, with a year-over-year change of -2.2%. This indicates that home prices in Fairbanks, AK are decreasing. According to Zillow, the 1-year price projection is -2.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $298,000 | -2.2% |
| Single Family | $307,000 | -2.8% |
| Condos | $149,000 | -3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $138,000 | -8.0% |
2 Bed | $235,000 | -3.3% |
3 Bed | $347,000 | -3.3% |
4 Bed | $429,000 | -2.3% |
| 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 $1,940, with a year-over-year rent change of 9.6%. Per bedroom, the median rent as of July '25 in Fairbanks, AK is studios: $1,400, 1-bedrooms: $1,080, 2-bedrooms: $1,600, 3-bedrooms: $2,520, 4-bedrooms: $2,940. The most common rental property sizes in Fairbanks, AK are 2-bedroom and 1-bedroom, accounting for 34.5% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,940 |
| Studio Rent | $850 | $1,400 |
| 1 Bed Rent | $1,200 | $1,080 |
| 2 Bed Rent | $1,550 | $1,600 |
| 3 Bed Rent | $2,500 | $2,520 |
| 4 Bed Rent | $2,850 | $2,940 |
% 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 52. This is a increase of 3.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $366,000 | 7.0% |
Listing Count | 105 | 91.0% |
| Listings as % of Homes | 0.2% | 91.0% |
Days on Market | 52 | 3.0% |
Demographics — Fairbanks, AK
As of the latest ACS Survey released in 2023, Fairbanks, AK has a population of 29,700, which has decreased by -2.3% over the past 5 years. Fairbanks, AK is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 43.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,700 | -2.3% |
% Under 18 | 21.8% | -5.2% |
% Seniors | 17.3% | 60.2% |
% WFH | 8.9% | 242.3% |
% w/ College Degree | 43.6% | -0.5% |
As of the latest ACS Survey released in 2023, Fairbanks, AK is a predominantly white area, with 65.3% of the population identifying as white. The white population has shrunk by 12.8% in the last 5 years. The second most common race or ethnicity in Fairbanks, AK is hispanic, making up 8.7% of the population. Foreign-born residents account for 6.4% of the population in Fairbanks, AK, and this percentage has decreased by 3.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.3% | -12.8% |
% Black | 4.2% | 82.6% |
% Hispanic | 8.7% | 42.6% |
% Asian | 2.6% | -33.3% |
% Foreign Born | 6.4% | -3.0% |
Mortgage and Risk — Fairbanks, AK
According to HUD data as of 2023, there were 417 mortgage originations in Fairbanks, AK, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Fairbanks, AK. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 417 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Fairbanks, AK
As of 2024, the percent of homes in Fairbanks, AK under the Section 8 program is 8.0%. 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 | 404 |
Total Units Section 8 | 379 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 90.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,200 | $1,140 |
| 2 Bedroom | -$50 | $1,550 | $1,500 |
| 3 Bedroom | -$400 | $2,500 | $2,100 |
| 4 Bedroom | -$330 | $2,850 | $2,520 |
Affordability — Fairbanks, AK
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $298,000 |
| Median Household Income | $83,000 |