Income needed to buy a home
Fairbanks North Star Borough, AK
$107,311
a year in household income to buy the typical Fairbanks North Star Borough home with 10% down.
The monthly math
Typical home value$311,765
Down payment (10%)$31,177
Loan$280,589
Principal and interest (7.40%)$1,943/mo
Property tax (1.11% a year)$288/mo
Homeowners insurance (estimate)$156/mo
Mortgage insurance$117/mo
Total monthly cost$2,504/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $88,267 a year, 82% of what it takes.
In Alaska
Fairbanks North Star Borough ranks #4 of 13 for the income a home takes, from least to most.
Easiest to afford in Alaska
| County | Typical home | Income needed |
|---|---|---|
| Southeast Fairbanks Census Area | $289,161 | $97,733 |
| North Slope Borough | $319,990 | $103,045 |
| Wrangell City and Borough | $321,839 | $103,226 |
| Haines Borough | $330,061 | $108,669 |
| Kenai Peninsula Borough | $351,179 | $113,678 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.