Cost of living in Fairbanks
Fairbanks, located in the heart of Alaska, offers a unique living experience with its stunning natural landscapes and vibrant community. Understanding the cost of living in Fairbanks is crucial for anyone considering moving to or residing in this city.
The cost of living encompasses various factors such as housing, transportation, groceries, and utilities, which can significantly impact your monthly budget. This guide provides a detailed breakdown of these expenses to help you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $25 on average, with a range between $15 and $50.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $87.5, with prices ranging from $65 to $150.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $14, with a range between $12 and $16.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $5 to $12, imported beer $8 to $12, cappuccino $4 to $8, and Coke/Pepsi $2.5 to $3.
Grocery Prices
- Milk - Milk is priced between $1.03 and $1.85 per liter, averaging $1.12.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $3.31 and $7.17, with an average price of $5.26.
- Eggs (Dozen) - A dozen eggs range from $2.89 to $4, averaging $3.3.
- Fruits (e.g., Apples, Oranges) - Apples cost $5.47 to $15.41 per kg, while oranges range from $3.28 to $17.61 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $3.28 and $4.41 per kg, and lettuce costs $2.5 to $3 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $1.5.
- Monthly Pass - A monthly public transport pass is priced at $40.
- Fuel (Gasoline) - Gasoline is priced between $0.96 and $1.1 per liter.
- Taxi Fares - Taxi fares start at $3.5, with a cost of $2.17 per km and $45 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1500 to $1800, averaging $1650.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $1500.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1800 to $2500, averaging $2266.67.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $2000.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $1884.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter averages $1884.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $125 and $220, averaging $165.
- Internet - Internet services range from $100 to $125, with an average cost of $115.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
"Key Takeaways"
Fairbanks presents a moderate cost of living with relatively high prices in dining and housing compared to other U.S. cities.
Groceries and utilities are reasonably priced, but transportation costs are low, making it easier to manage daily commutes.
For those considering a move to Fairbanks, budgeting for higher dining and housing expenses is advisable.
Conclusion
In conclusion, Fairbanks offers a unique living experience with its natural beauty and community spirit. While some costs, such as dining and housing, are on the higher side, the overall cost of living remains manageable.
Prospective residents should consider these factors when planning their move to ensure a comfortable and financially sustainable lifestyle in Fairbanks.
Nearby Cities
All cities in Alaska