The typical owner-occupied home in Fairbanks North Star Borough is worth about $298,200, 16% below the Alaska median of $352,900 and 10% below the national median of $332,700. Owners pay a median $3,550 a year in property taxes, about 1.19% of their home's value, higher than the Alaska rate of 1.11%. The median household earns $88,267 a year, so the median home costs 3.4 times the median income (3.8 times for Alaska). 62% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Fairbanks North Star Borough at a glance
| Fairbanks North Star Borough | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $298,200 | $352,900 | $332,700 |
| Median property tax paid per year | $3,550 | $3,901 | $3,119 |
| Property tax as a share of value | 1.19% | 1.11% | 0.94% |
| Median household income | $88,267 | $92,788 | $80,734 |
| Homes lived in by their owners | 62% | 67% | 65% |
| Owner homes with a mortgage | 57% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $2,194 | $2,229 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 21.6% | 21.0% |
| Median rent | $1,459 | $1,419 | $1,413 |
| Rent as a share of renters' income | 28.5% | 27.7% | 30.6% |
| Median year homes were built | 1985 | 1986 | 1980 |
| Vacant homes | 14.8% | 17.6% | 10.1% |
| Population | 95,460 | 735,706 | 334,922,499 |
What a typical home costs per month in Fairbanks North Star Borough
At this week's average 30-year rate of 7.11%, buying the median Fairbanks North Star Borough home of $298,200 with 20% down costs about $2,025 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,522, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $86,776 for the 20%-down payment. That payment is 28% of the median Fairbanks North Star Borough household income of $88,267; at that income and 20% down, the 28% guideline points to a home of about $303,000.
The median rent here is $1,459 a month, so owning the median home costs about $566 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,640 |
|---|---|
| Loan amount | $238,560 |
| Principal and interest | $1,605 |
| Property taxes (1.19% a year) | $296 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| PMI | $0 |
| Total per month | $2,025 |
Change the numbers in the calculator
| Down payment | $10,437 |
|---|---|
| Loan amount | $292,799 |
| Principal and interest | $1,970 |
| Property taxes (1.19% a year) | $296 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| FHA mortgage insurance | $132 |
| Total per month | $2,522 |
Change the numbers in the calculator
Questions about home buying in Fairbanks North Star Borough
What is the median home value in Fairbanks North Star Borough?
About $298,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fairbanks North Star Borough?
Homeowners pay a median $3,550 a year, which is about 1.19% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fairbanks North Star Borough?
For the median home with 20% down at 7.11%, the payment is about $2,025 a month. Keeping that under 28% of gross income takes about $86,776 a year.
More about Fairbanks North Star Borough
- Mortgage Refinance in Fairbanks North Star Borough
- Debt Relief in Fairbanks North Star Borough
- Home Equity Loans in Fairbanks North Star Borough
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data