How many renters live in Fairbanks North Star Borough, Alaska?
The County of Fairbanks North Star Borough has people living in households.
There are renters living in renter households in this County. Renters make up 35.75 percent of the population living in Fairbanks North Star Borough.
What is the rental market like in Fairbanks North Star Borough, Alaska?
There are an estimated housing units in the Fairbanks North Star Borough area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Fairbanks North Star Borough, Alaska, there are 1.07 rental units.
What is the vacancy rate for rentals in Fairbanks North Star Borough?
The rental vacancy rate in Fairbanks North Star Borough is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Fairbanks North Star Borough for each bedroom size?
Occupied Rental Units by Size in Fairbanks North Star Borough
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 1,694 | 3,197 | 4,553 | 3,543 | 1,082 |
Occupied Rental Units by Size in Fairbanks North Star Borough
A large number of apartments in Fairbanks North Star Borough have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Fairbanks North Star Borough
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,116 to $2,793. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,116 |
| One BR | $1,253 |
| Two BR | $1,646 |
| Three BR | $2,320 |
| Four BR | $2,793 |
2024 Fair Market Rents in Fairbanks North Star Borough, Alaska
How many units are rented at Fair Market Rent (FMR) in Fairbanks North Star Borough?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 1,462 | 86 percent |
| One BR | 2,233 | 70 percent |
| Two BR | 2,702 | 59 percent |
Rental Units Below FMR in Fairbanks North Star Borough, Alaska
How many affordable rental units are in Fairbanks North Star Borough?
There are a variety of federal affordable housing programs serving households in Fairbanks North Star Borough, Alaska including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| Section 811 Supportive Housing for Persons with Disabilities | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Fairbanks North Star Borough, Alaska
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Fairbanks North Star Borough, Alaska
Fairbanks North Star Borough features 580 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Fairbanks North Star Borough, Alaska
There are 429 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fairbanks North Star Borough.
Housing Choice Vouchers in Fairbanks North Star Borough, Alaska
On average, Section 8 Housing Choice vouchers pay Fairbanks North Star Borough landlords $700 per month towards rent. The average voucher holder contributes $500 towards rent in Fairbanks North Star Borough.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fairbanks North Star Borough, Alaska for a two-bedroom apartment is between $1,481 and $1,811.
Sourced from federal housing data and AffordableHousingOnline.com research.