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Fairbanks North Star Borough, AK

RANK #798 / 996  ·  POP 96,299  ·  AK

PROJECTED GROWTH: -0.5%

Fairbanks North Star Borough is losing people and economic momentum. This metro faces significant structural headwinds.

[01] Why Fairbanks North Star Borough?

North Pole, a town where it is Christmas every day, is one of the notable communities within the Fairbanks North Star Borough. This vast interior Alaska region, roughly the size of New Jersey, is centered around Fairbanks, often called the "Golden Heart of Alaska." The borough is located far from other major Alaskan cities, with Anchorage being a three-hour train ride away. Commutes within the borough are generally short, averaging 15 to 20 minutes, and a public bus system, MACS, serves the urban areas including Fairbanks and North Pole. The natural scenery includes the Chena River, and outdoor recreation opportunities like hiking, skiing, snowmobiling, and aurora viewing are popular.

Life in the Fairbanks North Star Borough is characterized by dramatic seasonal temperature shifts, from subzero winters to warm summers. The community values quality, affordable, and safe living conditions, and aims to protect its unique neighborhoods and lifestyles. Major institutions like the University of Alaska Fairbanks, Fort Wainwright, and Eielson Air Force Base are central to the region's economy and culture. The economy is also driven by sectors such as mining, transportation, and infrastructure, with recent investments in these areas. The Fairbanks North Star Borough School District serves over 12,000 students across 34 public schools.

[02] Market Snapshot

Housing Ratio
4.5x

Below national median (4.7x)

GDP Growth
+6.6%

Well above national median

Home Prices
-0.7%

Prices declining

Climate & Terrain

No data

Price/Rent
12x

Below national median (13x)

Housing is fairly valued at 4.5x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Fairbanks North Star Borough U.S. National

The Numbers

DEMOGRAPHICS
Population
96,299
-0.87% YoY
Median Household Income
$81,655
Median Home Value
$276,800
-0.68% 12mo
Median Rent
$1,360
Average Annual Pay
$69,700
+5.0% YoY
Employment
37,015
+2.4% YoY
Income-to-Home-Value
0.295
More affordable than average
Migration Inflow
1.86%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$257,499
Days on Market
118
Slower market
Months of Supply
3.8
Balanced market
Sale-to-List Ratio
96.0%
Negotiation room for buyers
Sold Above List
2.8%
Listings w/ Price Drops
22.6%
Building Permits (2024)
18
Single-Family Permits
6

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$700M
TOTAL
PROJECT AMOUNT STATUS
North Slope LNG Facility Expansion
Harvest Midstream / Interior Gas Utility (IGU)
$500M Operating
Multi-family Housing Tax Incentives
Fairbanks North Star Borough
$50M Proposed
North Star Community Recreation Center
Fairbanks North Star Borough
$50M Planned
Indoor Community Playground Project
Fairbanks North Star Borough
$50M Planned
Fairbanks North Star Borough School District Capital Improvements (Boilers, Track, Tennis Courts, Pioneer Park)
Fairbanks North Star Borough School District
$50M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +6.6% 93 percentile
Population Growth -0.9% 5 percentile
Income Growth +4.3% 2 percentile
Vacancy Rate 2.1% 7 percentile
Home Price Change -0.7% 23 percentile
Rent Growth +3.9% 65 percentile
Price/Rent 12x 66 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Fairbanks North Star Borough, AK a good place to move to?

Fairbanks North Star Borough has a Boom Town Index score of 20/100, ranking #798 among 996 U.S. counties. With job growth at +2.4% and a median household income of $81,655, it faces some economic headwinds compared to faster-growing counties.

Is Fairbanks North Star Borough affordable?

The median home value in Fairbanks North Star Borough is $276,800 with median rent at $1,360/month. The income-to-home-value ratio is 0.295, which is more affordable than the national average.

Is Fairbanks North Star Borough growing or shrinking?

Population growth: -0.9% year-over-year. Job growth: +2.4%. Home values changed -0.7% in the past 12 months.

[08] Similar Metros

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