Median rent is 1% lower in Anchorage ($1,453/mo vs $1,470/mo). Buying is cheaper in Fairbanks, where the median home runs $255,700 versus $375,900. Households earn more in Anchorage ($98,152 vs $72,077 a year).
City A
Anchorage, AK
City B
Fairbanks, AK
How much would you need to earn in Fairbanks, AK to maintain your standard of living from Anchorage, AK?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Anchorage
Alaska
Fairbanks
Alaska
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rents are similar in both cities: $1,453/mo in Anchorage and $1,470/mo in Fairbanks. Home buyers face a steeper market in Anchorage: the median home is $375,900 versus $255,700 in Fairbanks — 32% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Alaska and Alaska have no state income tax — a notable advantage for workers in both cities. Sales tax is 0.00% in Alaska and 0.00% in Alaska; Fairbanks has the lower rate (local add-ons may apply in both).
Anchorage
Income tax: None
Sales tax: None
Fairbanks
Income tax: None
Sales tax: None
Air quality data is available for Anchorage (avg AQI 12.0) but not yet for Fairbanks.
Pick Anchorage if you prioritize higher median household income ($98,152/yr).
Is Anchorage cheaper than Fairbanks?
Cost of living index data is not yet available for one or both cities.
How much is rent in Anchorage vs Fairbanks?
Median rent is $1,453/mo in Anchorage, AK and $1,470/mo in Fairbanks, AK. Anchorage, AK has the lower rent by about 1%.
Which has higher salaries — Anchorage or Fairbanks?
Median household income is $98,152 in Anchorage, AK and $72,077 in Fairbanks, AK. Anchorage, AK has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Anchorage or Fairbanks?
Both Alaska and Alaska have no state income tax.
What salary do I need in Fairbanks to match my Anchorage income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology