Rent in Fairbanks, AK at a glance
2-bedroom rent (HUD)
$1,676$20,112 a year · HUD fiscal year 2026From October 1, 2026: $1,553 (−7.3%)How much rent can you afford in Fairbanks, AK?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Fairbanks, AK by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $1,156 | $13,872 | $46,240 | $22.23/hr |
| 1 bedroom | $1,277 | $15,324 | $51,080 | $24.56/hr |
| 2 bedroomsMost searched | $1,676 | $20,112 | $67,040 | $32.23/hr |
| 3 bedrooms | $2,331 | $27,972 | $93,240 | $44.83/hr |
| 4 bedrooms | $2,812 | $33,744 | $112,480 | $54.08/hr |
Cost of living in Fairbanks, AK: income, prices and a budget →
Living and working in Fairbanks, AK
Rent in Fairbanks, AK: common questions
How much is rent going down in Fairbanks, AK in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,553 for a two-bedroom, down 7.3% from $1,676. A one-bedroom goes from $1,277 to $1,187, a studio from $1,156 to $1,081.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Fairbanks, AK?
HUD's Fair Market Rent for 2026 is $1,277 for a one-bedroom and $1,676 for a two-bedroom, utilities included. That is $20,112 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Fairbanks, AK?
To keep a $1,676 two-bedroom at 30% of gross pay, one full-time worker needs $32.23 an hour, or $67,040 a year. A one-bedroom at $1,277 takes $24.56 an hour.
How much is a 1, 2 or 3-bedroom apartment in Fairbanks, AK?
At HUD's 2026 Fair Market Rent: studio $1,156, one bedroom $1,277, two $1,676, three $2,331 and four $2,812 a month.
Is rent affordable in Fairbanks, AK?
For the typical household, earning $73,534 a year ($6,128 a month, Census ACS), a two-bedroom at $1,676 takes 27.4% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,676 × 12) ÷ 0.30 = $67,040. Divided by 2,080 working hours, that is $32.23 an hour.