Fairbanks-College, AK vs Anchorage, AK
A 2-bedroom in Anchorage costs $45 less per month than Fairbanks-College ($1,631 vs $1,676). Median income is $84,722 in Fairbanks-College and $95,918 in Anchorage. That's a difference of $540 per year in housing costs.
Side-by-Side Comparison
| Metric | Fairbanks-College | Anchorage |
|---|---|---|
| Studio FMR | $1,156 | $1,152 |
| 1BR FMR | $1,277 | $1,243 |
| 2BR FMR | $1,676 | $1,631 |
| 3BR FMR | $2,331 | $2,268 |
| 4BR FMR | $2,812 | $2,736 |
| Median Income | $84,722 | $95,918 |
| Rent Burden | 23.7% | 20.4% |
| Actual Median Rent | $1,424 | $1,422 |
| Median Home Value | $282,500 | $358,900 |
| Population | 96K | 400K |
| Renter % | 38.3% | 32.8% |
| Vacancy Rate | 15.3% | 13.5% |
| Poverty Rate | 6.2% | 9.6% |
| YoY Change | - | +12.2% |
| Min Wage | $11.73/hr | $11.73/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Anchorage, AK is more affordable with a 2BR FMR of $1,631/mo, which is $45 less than Fairbanks-College at $1,676/mo. However, when considering local incomes, Fairbanks-College has a rent burden of 23.7% vs 20.4% in Anchorage.
A 2-bedroom in Fairbanks-College, AK costs $1,676/mo at Fair Market Rent, while in Anchorage, AK it's $1,631/mo, a difference of $45/mo or $540/year.
To afford a 2BR without spending more than 30% of income on rent: Fairbanks-College requires $67,040/year ($32/hr). Anchorage requires $65,240/year ($31/hr).