Market Overview
Home Prices in Fairbanks, AK
The median home value in Fairbanks, AK is $309,568 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.9% compared to a year ago and down 0.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Fairbanks are priced24% below average. Fairbanks is part of the Fairbanks, AK metro area.
Over the past five years, Fairbanks home values have risen by approximately8.9%, reflecting steady appreciation in this market.
Price History
Fairbanks Home Price Trend
City Comparison
Fairbanks vs. National Median
At $309,568, homes in Fairbanks cost 24% below the national median of $410,000. This makes Fairbanks a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Fairbanks?
20% Down Payment
$61,914
on $309,568
Monthly P&I
$1,615/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,051/mo
incl. taxes & insurance
Income Needed
$82,040
gross annual (30% rule)
10% Down Option
$30,957
+ PMI applies
Loan Amount (20% dn)
$247,654
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Fairbanks, AK?
The median home value in Fairbanks is $309,568 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.9% year-over-year.
How much have home prices changed in Fairbanks?
Over the past year, home values in Fairbanks have increased by 2.9%. Over five years, prices have risen approximately 8.9%.
How much do I need to earn to buy a home in Fairbanks?
To comfortably afford the median home price of $309,568 with a 20% down payment ($61,914) at today's rates (6.8%), you'd need a gross annual income of approximately $82,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Fairbanks compare to the national average home price?
The national median home value is approximately $410,000. At $309,568, homes in Fairbanks are 24% below the national average.
What metro area is Fairbanks part of?
Fairbanks is part of the Fairbanks, AK metropolitan area. Home prices and market conditions can vary across the broader metro region.