Fairbanks North Star Borough Alaska Residential Rent and Rental Statistics
The median monthly gross residential rent in Fairbanks North Star Borough AK was $1,284 in 2019 according to the Census ACS survey.1 Average gross rent in Fairbanks North Star Borough was $1,255 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Fairbanks North Star Borough median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Fairbanks North Star Borough Alaska (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Alaska Median Gross Rent | $1,201 | +0.25% | -5.06% |
| Fairbanks North Star Borough AK Median Gross Rent | $1,284 | +2.39% | -3.96% |
Fairbanks North Star Borough AK Real Gross Rent Trends
Median gross rent for Fairbanks North Star Borough peaked in real terms in 2011 at $1,349 and is now $65 (4.82%) lower. Average gross rent for Fairbanks North Star Borough peaked in real terms in 2018 at $1,334 and is now $79 (5.92%) lower.
Real Gross Rent: Fairbanks North Star Borough AK Median, Fairbanks North Star Borough AK Average, Alaska Median, US Median
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 |
|---|---|---|---|---|
| 2019 | $1,097 | $1,201 | $1,284 | $1,255 |
| 2018 | $1,077 | $1,198 | $1,254 | $1,334 |
| 2017 | $1,043 | $1,238 | $1,248 | $1,275 |
| 2016 | $1,027 | $1,265 | $1,337 | $1,286 |
| 2015 | $1,017 | $1,234 | $1,267 | $1,310 |
| 2014 | $986 | $1,249 | $1,301 | $1,315 |
| 2013 | $953 | $1,176 | $1,202 | $1,310 |
| 2012 | $940 | $1,191 | $1,300 | $1,297 |
| 2011 | $941 | $1,133 | $1,349 | $1,252 |
| 2010 | $955 | $1,096 | $1,256 | $1,214 |
| 2009 | $960 | $1,148 | $1,110 | $1,119 |
| 2007 | $927 | $1,079 | $1,104 | $1,030 |
| 2005 | $910 | $1,040 | $986 | $810 |
Fairbanks North Star Borough Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Fairbanks North Star Borough Alaska was 7.77% according to Census ACS data.
Rental Vacancy Rate in Fairbanks North Star Borough Alaska
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Alaska | 9.22% | +0.66% | +3.41% |
| Fairbanks North Star Borough AK | 7.77% | -0.95% | — |
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 9.36% to 7.77%. Data records for this series originated in 2005.
Rental Vacancy Rate: Fairbanks North Star Borough AK, Alaska, US
Historical Rental Vacancy Rate data for Fairbanks North Star Borough
| Date | US | Alaska | Fairbanks North Star Borough AK |
|---|---|---|---|
| 2019 | 5.97% | 9.22% | 7.77% |
| 2018 | 6.15% | 8.56% | 8.72% |
| 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% |
| 2007 | 7.87% | 5.99% | — |
| 2005 | 7.74% | 6.87% | — |
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 21.38% in 2019 according to the ACS.
Fairbanks North Star Borough Alaska Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Alaska | 19.10% | +0.10% | +0.13% |
| Fairbanks North Star Borough AK | 21.38% | +1.79% | +1.56% |
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 1.36% to 21.38%.
Fraction of Income towards Rent: Fairbanks North Star Borough AK, Alaska, US
Historical Data for Annual Rent as a Fraction of Income in Fairbanks North Star Borough Alaska
| Date | US | Alaska | Fairbanks North Star Borough AK |
|---|---|---|---|
| 2019 | 20.03% | 19.10% | 21.38% |
| 2018 | 20.50% | 19.00% | 19.59% |
| 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% |
| 2007 | 18.66% | 17.12% | 17.27% |
| 2005 | 18.89% | 17.75% | 16.74% |
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 2019 38.13% of households were renters according to Census ACS data.
Fairbanks North Star Borough Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Alaska | 35.26% | +0.91% | -0.26% |
| Fairbanks North Star Borough AK | 38.13% | -2.47% | +0.46% |
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 5.32% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Fairbanks North Star Borough AK, Alaska, US
History of Fairbanks North Star Borough Renter Fraction
| Date | US | Alaska | Fairbanks North Star Borough AK |
|---|---|---|---|
| 2019 | 35.89% | 35.26% | 38.13% |
| 2018 | 36.05% | 34.35% | 40.60% |
| 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% |
| 2007 | 32.80% | 36.97% | 42.60% |
| 2005 | 33.10% | 36.97% | 43.34% |
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. ↩
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