Is Phoenix, AZ cheaper than Fairbanks, AK?

Based on cost of living data, Phoenix, AZ is 10.3% more expensive than Fairbanks, AK. This translates to spending an extra $770 per month.

What salary do I need in Phoenix, AZ to live like I do in Fairbanks, AK?

If you earn $150,000 in Fairbanks, AK, you'd need approximately $159,239.575 in Phoenix, AZ to maintain the same standard of living.

How does housing cost compare between Fairbanks, AK and Phoenix, AZ?

Housing in Phoenix, AZ is 34.9% more expensive than in Fairbanks, AK. For a two-bedroom apartment, rent is $1,750/month in Phoenix, AZ compared to $961/month in Fairbanks, AK.

How much can I save per month by moving from Fairbanks, AK to Phoenix, AZ?

Living in Phoenix, AZ costs approximately $770 more per month than Fairbanks, AK, or $9240 more per year, based on a $150,000 salary.

Fairbanks, AK vs Phoenix, AZ: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Fairbanks, AK — ZIP-level rent data · COL adjusted from Anchorage, AK area

Current salary in Fairbanks, AK

Numbers update automatically as you type

You'd spend $770/month more in Phoenix, AZ

$150.0K in your current city equals $159.2K in Phoenix, AZ

Rent data from HUD ZIP-level estimates · COL index from area

Overall Cost

↑ 10.3%

More expensive

Monthly Impact

$770

Extra cost

Annual Impact

$9.2K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Fairbanks, AK

Population:32K

Cost Index:100

Median Home:$297K

Phoenix, AZ

Population:1608K

Cost Index:110

Median Home:$414K

Fairbanks, AK

The Last Frontier

32K

Population

State Tax

No Income Tax

Located in Alaska, this city has a population of 32K residents.

💡 Advantage: Alaska has no state income tax!

Phoenix, AZ

The Grand Canyon State

1.6M

Population

State Tax

Yes

Climate

Hot desert

Notable Facts

•Fastest growing major city
•Desert metropolis
•Spring training capital

Major Industries

TechnologyHealthcareTourismManufacturing

Cost Breakdown by Category

Annual spending: Fairbanks, AK vs Phoenix, AZ

Category	Fairbanks, AK	Phoenix, AZ	Difference	Change
🏠Housing	$2,066/mo	$2,788/mo	↑ $722more	34.9%
🚗Transportation	$1,084/mo	$1,489/mo	↑ $405more	37.3%
📦Other	$1,391/mo	$1,677/mo	↑ $286more	20.6%
🛒Groceries	$1,150/mo	$963/mo	↓ $187less	16.2%
🏥Healthcare	$772/mo	$589/mo	↓ $183less	23.8%
⚡All Utilities	$714/mo	$561/mo	↓ $153less	21.4%

🏠Housing

↑ 34.9%

Fairbanks, AK

$2,066

Phoenix, AZ

$2,788

Difference

$722

🚗Transportation

↑ 37.3%

Fairbanks, AK

$1,084

Phoenix, AZ

$1,489

Difference

$405

📦Other

↑ 20.6%

Fairbanks, AK

$1,391

Phoenix, AZ

$1,677

Difference

$286

🛒Groceries

↓ 16.2%

Fairbanks, AK

$1,150

Phoenix, AZ

$963

Difference

$187

less

🏥Healthcare

↓ 23.8%

Fairbanks, AK

$772

Phoenix, AZ

$589

Difference

$183

less

⚡All Utilities

↓ 21.4%

Fairbanks, AK

$714

Phoenix, AZ

$561

Difference

$153

less

🏠Rent Comparison

Studio

From$662

To$1,390

↑ $728

1 Bed

From$732

To$1,510

↑ $778

2 Bed

From$961

To$1,750

↑ $789

3 Bed

From$1,343

To$2,330

↑ $987

Fairbanks, AKZIP-level data

1BR range: $1,150–$1,200/mo

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,178

Monthly in Fairbanks, AK

$8,068

Monthly in Phoenix, AZ

$890

Difference

Home Values

Fairbanks

Phoenix

$297K

Median Value

$414K

↓ -2.3%

YoY Change

↓ -3.1%

↑ +4.3%

5-Year Change

↑ +30.2%

$296K - $298K

Price Range

$274K - $957K

Homes in Phoenix are 39% more expensive than Fairbanks

Calculate payment - Fairbanks Calculate payment - Phoenix

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $5.2K

More taxes

Monthly Difference

$436

Less take-home

Effective Rate Diff

3.5%

Rate difference

Fairbanks, AK

Federal Income Tax

Effective: 18.9%

$25.5K

Alaska State Tax

No state income tax

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 24.7%

$37.0K

Take-Home Pay

$9,416/month

$113.0K

Phoenix, AZ

Federal Income Tax

Effective: 18.9%

$25.5K

Arizona State Tax

Effective: 3.5%

$5.2K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 28.2%

$42.2K

Take-Home Pay

$8,979/month

$107.8K

Additional Tax Information

Fairbanks, AK Tax Rates

Sales Tax:1.8%

Property Tax:0.9%

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.