Department of Numbers

Fairbanks North Star Borough Alaska Residential Rent and Rental Statistics

The median monthly gross residential rent in Fairbanks North Star Borough AK was $1,210 in 2017 according to the Census ACS survey.1 Average gross rent in Fairbanks North Star Borough was $1,237 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Fairbanks North Star Borough median and average rent data will be released in September of 2019.

Data is also available below for Fairbanks North Star Borough rental vacancy rates, Fairbanks North Star Borough rent as a percent of median income and the fraction of renters in Fairbanks North Star Borough.

Show dollars as: Nominal Real

Real Gross Rent in Fairbanks North Star Borough Alaska (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Alaska Median Gross Rent $1,201 -2.12% -0.83%
Fairbanks North Star Borough AK Median Gross Rent $1,210 -6.71% -4.04%

Fairbanks North Star Borough AK Real Gross Rent Trends

Median gross rent for Fairbanks North Star Borough peaked in real terms in 2011 at $1,308 and is now $98 (7.49%) lower. Average gross rent for Fairbanks North Star Borough peaked in real terms in 2014 at $1,276 and is now $39 (3.06%) lower.

Real Gross Rent: Fairbanks North Star Borough AK Median, Fairbanks North Star Borough AK Average, Alaska Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Fairbanks North Star Borough

Date US
Median
Alaska
Median
Fairbanks North Star Borough AK
Median
Fairbanks North Star Borough AK
Average
2017 $1,012 $1,201 $1,210 $1,237
2016 $996 $1,227 $1,297 $1,247
2015 $987 $1,197 $1,228 $1,271
2014 $956 $1,211 $1,261 $1,276
2013 $924 $1,141 $1,165 $1,271
2012 $912 $1,156 $1,261 $1,258
2011 $912 $1,099 $1,308 $1,214
2010 $927 $1,063 $1,218 $1,177
2009 $931 $1,113 $1,077 $1,085
2008 $947 $1,090 $1,131 $1,054
2007 $899 $1,046 $1,071 $999
2006 $909 $1,052 $1,005 $824

Fairbanks North Star Borough Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Fairbanks North Star Borough Alaska was 11.88% according to Census ACS data.

Rental Vacancy Rate in Fairbanks North Star Borough Alaska

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Alaska 8.12% +2.31% +2.23%
Fairbanks North Star Borough AK 11.88%

Trends in Fairbanks North Star Borough AK Rental Vacancy Rate

The rental vacancy rate in Fairbanks North Star Borough peaked in 2013 at 17.13%. Since then it has fallen by 5.25% to 11.88%. Data records for this series originated in 2005.

Rental Vacancy Rate: Fairbanks North Star Borough AK, Alaska, US

Rental vacancy rate in Alaska

Historical Rental Vacancy Rate data for Fairbanks North Star Borough

Date US Alaska Fairbanks North Star Borough AK
2017 6.18% 8.12% 11.88%
2016 5.89% 5.81%
2015 5.85% 5.74% 6.87%
2014 6.32% 5.89%
2013 6.49% 7.74% 17.13%
2012 6.77% 5.62% 4.28%
2011 7.40% 5.94%
2010 8.17% 3.73%
2009 8.43% 6.82% 13.43%
2008 7.86% 4.80% 10.95%
2007 7.87% 5.99%
2006 7.70% 7.46% 13.36%

Rent as a Fraction of Income

Using median household income data for Fairbanks North Star Borough, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fairbanks North Star Borough, median monthly gross rent as a fraction of median household income was 18.92% in 2017 according to the ACS.

Fairbanks North Star Borough Alaska Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Alaska 19.69% +0.73% -0.14%
Fairbanks North Star Borough AK 18.92% -0.90% -2.26%

Trends in Fairbanks North Star Borough AK Rent as a Fraction of Income

The fraction of median Fairbanks North Star Borough household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 22.74%. Since then it has fallen by 3.82% to 18.92%.

Fraction of Income towards Rent: Fairbanks North Star Borough AK, Alaska, US

Percent of median household income going towards median monthly gross rent in Fairbanks North Star Borough Alaska

Historical Data for Annual Rent as a Fraction of Income in Fairbanks North Star Borough Alaska

Date US Alaska Fairbanks North Star Borough AK
2017 20.13% 19.69% 18.92%
2016 20.43% 18.96% 19.82%
2015 20.63% 19.03% 19.63%
2014 20.89% 19.83% 21.17%
2013 20.78% 18.56% 19.81%
2012 20.65% 19.85% 22.04%
2011 20.70% 18.56% 22.74%
2010 20.50% 18.23% 22.19%
2009 20.12% 18.05% 16.55%
2008 19.00% 16.63% 17.10%
2007 18.66% 17.12% 17.27%
2006 18.90% 17.84% 17.21%

Renter Fraction in Fairbanks North Star Borough Alaska

You can calculate the renter fraction in Fairbanks North Star Borough in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Fairbanks North Star Borough as a fraction of total Fairbanks North Star Borough households. In 2017 40.50% of households were renters according to Census ACS data.

Fairbanks North Star Borough Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Alaska 36.45% +0.93% -1.06%
Fairbanks North Star Borough AK 40.50% +2.83% -2.95%

Trends in the Fairbanks North Star Borough AK Renter Fraction

The Fairbanks North Star Borough household renter fraction peaked in in 2014 at 43.45% and is now 2.95% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Fairbanks North Star Borough AK, Alaska, US

Fraction of renters in Fairbanks North Star Borough

History of Fairbanks North Star Borough Renter Fraction

Date US Alaska Fairbanks North Star Borough AK
2017 36.13% 36.45% 40.50%
2016 36.88% 35.52% 37.67%
2015 36.97% 36.08% 42.81%
2014 36.90% 37.51% 43.45%
2013 36.50% 36.55% 38.90%
2012 36.09% 36.65% 40.33%
2011 35.42% 36.92% 41.93%
2010 34.65% 36.06% 42.25%
2009 34.13% 34.77% 35.66%
2008 33.36% 35.05% 37.85%
2007 32.80% 36.97% 42.60%
2006 32.73% 35.51% 38.77%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.