FAIRBANKS Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Rent Data
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Fairbanks averaged 6.81% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.69% and one month ago for the week of 2024-03-14, the average rate was 6.75%.

    Fairbanks's average rate one year ago was 6.38%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.2%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Fairbanks 30 Year Fixed Rate 2024-04-18 6.81%
    Fairbanks 30 Year Fixed Rate Refi 2024-04-18 7.2%
    Fairbanks 15 Year Fixed Rate 2024-04-18 6.39%
    Fairbanks 15 Year Fixed Rate Refi 2024-04-18 6.69%
    Fairbanks 30 Year FHA 2024-04-18 6.86%
    Fairbanks 30 Year FHA Refi 2024-04-18 6.76%
    Fairbanks 30 Year USDA 2024-04-18 7.06%
    Fairbanks 30 Year USDA Refi 2024-04-18 6.86%
    Fairbanks 30 Year VA 2024-04-18 6.73%
    Fairbanks 30 Year VA Refi 2024-04-18 6.56%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within FAIRBANKS, AK.

    FAIRBANKS Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the FAIRBANKS, AK market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NEWREZ LLC 61 6.89% $5,979
    Alaska USA Federal Credit Union 27 6.53% $4,892
    QUICKEN LOANS, LLC 24 6.96% $8,590
    CORNERSTONE HOME LENDING, INC. 22 6.53% $5,712
    CREDIT UNION 1 14 6.02% $6,107
    RESIDENTIAL MORTGAGE, LLC 13 6.27% $5,495
    CROSSCOUNTRY MORTGAGE, LLC 11 6.70% $4,971
    UNITED WHOLESALE MORTGAGE, LLC 10 7.00% $5,914
    GUILD MORTGAGE COMPANY 9 6.44% $6,552
    First National Bank Alaska 6 6.10% $6,404
    Wells Fargo Bank 4 6.38% $4,781
    BROKER SOLUTIONS, INC. 4 6.77% $7,841
    AMERISAVE MORTGAGE CORPORATION 4 6.44% $8,903
    GUARANTEED RATE, INC. 4 6.94% $4,607
    JPMorgan Chase Bank 3 6.17% $3,639
    LOANDEPOT.COM, LLC 3 7.08% $7,227
    CRESCENT MORTGAGE COMPANY 3 7.04% $6,189
    KeyBank 2 8.51% $3,823
    AMCAP MORTGAGE, LTD. 2 7.12% $7,723
    NAVY FEDERAL CREDIT UNION 2 5.88% $4,514
    NuVision Federal Credit Union 2 6.25% $3,915
    USAA Federal Savings Bank 2 6.25% $9,297
    North American Savings Bank, F.S.B. 1 7.63% $2,253
    AMERICAN FINANCING CORPORATION 1 5.99% $10,330
    Paramount Residential Mortgage Group, Inc. 1 8.13% $9,564
    Plains Commerce Bank 1 7.13% $7,808
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.63% $3,895
    Evolve Bank & Trust 1 6.38% $5,319
    Discover Bank 1 6.99% $0
    Sunflower Bank 1 6.38% $11,533
    UNION HOME MORTGAGE CORP. 1 6.88% $6,640
    BMO Harris Bank 1 6.63% $4,212
    Mr. Cooper ( Nationstar Mortgage ) 1 6.88% $6,600
    ZILLOW HOME LOANS, LLC 1 6.38% $3,275
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.38% $3,850

    FAIRBANKS Average Closing Costs & Other Stats

    FAIRBANKS, AK's 35 lenders originated 1,380 loans during 2023. The total origination value was $378,770,000, with an average loan value of $274,471.

    FAIRBANKS's average closing costs are $6,378.

    The top FAIRBANKS lender as defined by loan originations is NEWREZ LLC, with 61 loans originated. Their average total fees are $5,979, which is $1,086 higher than the next largest lender, Alaska USA Federal Credit Union.

    The lowest fee FAIRBANKS lenders (with over 10 loans originated) are Alaska USA Federal Credit Union ($4,892), CROSSCOUNTRY MORTGAGE, LLC ($4,971), RESIDENTIAL MORTGAGE, LLC ($5,495), CORNERSTONE HOME LENDING, INC. ($5,712) and UNITED WHOLESALE MORTGAGE, LLC ($5,914).

    The lowest rate FAIRBANKS lenders (with over 10 loans originated) are CREDIT UNION 1 (6.02%), RESIDENTIAL MORTGAGE, LLC (6.27%), Alaska USA Federal Credit Union (6.53%), CORNERSTONE HOME LENDING, INC. (6.53%) and CROSSCOUNTRY MORTGAGE, LLC (6.70%).

    FAIRBANKS, AK Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    NEWREZ LLC $1,545,000 $71,650,000 4,537.5% 18.9%
    Mt. McKinley Bank $46,810,000 $35,830,000 -23.5% 9.5%
    Mortgage Research Center, LLC $44,045,000 $33,185,000 -24.7% 8.8%
    Denali State Bank $64,245,000 $31,620,000 -50.8% 8.3%
    Alaska USA Federal Credit Union $5,440,000 $27,870,000 412.3% 7.4%
    RESIDENTIAL MORTGAGE, LLC $43,950,000 $20,035,000 -54.4% 5.3%
    UNITED WHOLESALE MORTGAGE, LLC $33,610,000 $19,515,000 -41.9% 5.2%
    CORNERSTONE HOME LENDING, INC. $24,615,000 $14,835,000 -39.7% 3.9%
    CROSSCOUNTRY MORTGAGE, LLC $17,590,000 $13,630,000 -22.5% 3.6%
    QUICKEN LOANS, LLC $24,460,000 $12,215,000 -50.1% 3.2%
    NAVY FEDERAL CREDIT UNION $11,375,000 $9,915,000 -12.8% 2.6%
    GUILD MORTGAGE COMPANY $10,500,000 $8,310,000 -20.9% 2.2%
    USAA Federal Savings Bank $12,135,000 $6,630,000 -45.4% 1.8%
    CREDIT UNION 1 $3,920,000 $5,545,000 41.5% 1.5%
    GUARANTEED RATE, INC. $3,050,000 $5,015,000 64.4% 1.3%
    SPIRIT OF ALASKA $10,050,000 $3,835,000 -61.8% 1.0%
    Wells Fargo Bank $9,345,000 $2,890,000 -69.1% 0.8%
    PENNYMAC LOAN SERVICES, LLC $3,315,000 $2,665,000 -19.6% 0.7%
    CRESCENT MORTGAGE COMPANY $2,555,000 $2,630,000 2.9% 0.7%
    NuVision Federal Credit Union $14,020,000 $2,365,000 -83.1% 0.6%
    KeyBank $3,620,000 $2,255,000 -37.7% 0.6%
    LOANDEPOT.COM, LLC $5,285,000 $2,180,000 -58.8% 0.6%
    BROKER SOLUTIONS, INC. $1,725,000 $2,110,000 22.3% 0.6%
    First National Bank Alaska $9,105,000 $1,970,000 -78.4% 0.5%
    AMERISAVE MORTGAGE CORPORATION $5,645,000 $1,950,000 -65.5% 0.5%
    MOVEMENT MORTGAGE, LLC $735,000 $1,860,000 153.1% 0.5%
    SaviBank $1,800,000 n/a 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $570,000 $1,615,000 183.3% 0.4%
    The Federal Savings Bank $2,200,000 $1,615,000 -26.6% 0.4%
    Plains Commerce Bank $1,505,000 n/a 0.4%
    NBKC BANK $1,525,000 $1,500,000 -1.6% 0.4%
    FREEDOM MORTGAGE CORPORATION $4,300,000 $1,440,000 -66.5% 0.4%
    ACADEMY MORTGAGE CORPORATION $3,030,000 $1,360,000 -55.1% 0.4%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $1,270,000 n/a 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,210,000 $1,250,000 3.3% 0.3%
    Flagstar Bank, FSB $1,320,000 $1,065,000 -19.3% 0.3%
    Carrington Mortgage Services, LLC $325,000 $1,045,000 221.5% 0.3%
    NEW DAY FINANCIAL, LLC $1,375,000 $1,005,000 -26.9% 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $445,000 $975,000 119.1% 0.3%
    AMCAP MORTGAGE, LTD. $875,000 $945,000 8.0% 0.2%
    Community First National Bank $285,000 $940,000 229.8% 0.2%
    AMERICAN FINANCING CORPORATION $965,000 $875,000 -9.3% 0.2%
    JPMorgan Chase Bank $635,000 $855,000 34.6% 0.2%
    CMG MORTGAGE, INC. $405,000 $750,000 85.2% 0.2%
    American Mortgage & Equity Consultants, Inc. $700,000 n/a 0.2%
    Discover Bank $300,000 $680,000 126.7% 0.2%
    CHURCHILL MORTGAGE CORPORATION $815,000 $675,000 -17.2% 0.2%
    Paramount Residential Mortgage Group, Inc. $345,000 $670,000 94.2% 0.2%
    Barrington Bank & Trust Company, N.A. $500,000 $630,000 26.0% 0.2%
    VILLAGE CAPITAL MORTGAGE $360,000 $630,000 75.0% 0.2%
    UNION HOME MORTGAGE CORP. $620,000 n/a 0.2%
    LAKEVIEW LOAN SERVICING, LLC $2,110,000 $580,000 -72.5% 0.2%
    TEMPLE VIEW CAPITAL FUNDING, LP $175,000 $480,000 174.3% 0.1%
    BMO Harris Bank $455,000 n/a 0.1%
    Nations Lending Corporation $440,000 n/a 0.1%
    Paramount Bank $450,000 $435,000 -3.3% 0.1%
    Bank of England $2,400,000 $425,000 -82.3% 0.1%
    M&T Bank $425,000 n/a 0.1%
    PLANET HOME LENDING, LLC $425,000 n/a 0.1%
    NFM, INC. $420,000 n/a 0.1%
    Sunflower Bank $405,000 n/a 0.1%
    Figure Lending LLC $205,000 $380,000 85.4% 0.1%
    Armed Forces Bank $325,000 $375,000 15.4% 0.1%
    Northpointe Bank $355,000 n/a 0.1%
    Prosperity Home Mortgage, LLC $355,000 n/a 0.1%
    Coastal Community Bank $345,000 n/a 0.1%
    North American Savings Bank, F.S.B. $780,000 $325,000 -58.3% 0.1%
    MID AMERICA MORTGAGE, INC. $670,000 $295,000 -56.0% 0.1%
    CARDINAL FINANCIAL $165,000 $285,000 72.7% 0.1%
    Evolve Bank & Trust $285,000 n/a 0.1%
    ON Q FINANCIAL, INC. $275,000 n/a 0.1%
    PNC Bank $175,000 $275,000 57.1% 0.1%
    ZILLOW HOME LOANS, LLC $560,000 $265,000 -52.7% 0.1%
    Merchants Bank $255,000 n/a 0.1%
    The State Bank of Faribault $235,000 n/a 0.1%
    Bank of America $1,350,000 $180,000 -86.7% 0.0%
    PENTAGON FEDERAL CREDIT UNION $1,540,000 $180,000 -88.3% 0.0%
    LONGBRIDGE FINANCIAL, LLC $155,000 n/a 0.0%
    SUN WEST MORTGAGE COMPANY, INC. $125,000 n/a 0.0%
    First National Bank of America $65,000 n/a 0.0%
    U.S. Bank $1,660,000 $55,000 -96.7% 0.0%

    FAIRBANKS's top lender by overall market share is NEWREZ LLC, with 18.9% market share. In second place, with 9.5%, is Mt. McKinley Bank, having originated $35,830,000 in loans. In third place, with 8.8%, is Mortgage Research Center, LLC, having originated $33,185,000 in loans. In fourth place, with 8.3%, is Denali State Bank, having originated $31,620,000 in loans. In fifth place, with 7.4%, is Alaska USA Federal Credit Union, having originated $27,870,000 in loans.

    FAIRBANKS Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - FAIRBANKS (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $199,650 (-0.1%) $205,187 (0.1%) 0.00 249
    2018-02-01 $199,200 (2.3%) $202,471 (-1.1%) 0.00 249
    2018-03-01 $209,900 (5.0%) $217,187 (1.4%) 0.00 300
    2018-04-01 $215,500 (7.8%) $228,412 (7.1%) 0.00 318
    2018-05-01 $217,225 (8.7%) $230,186 (8.9%) 0.00 333
    2018-06-01 $219,950 (8.9%) $233,210 (9.2%) 0.00 405
    2018-07-01 $233,650 (11.3%) $237,025 (9.1%) 0.00 473
    2018-08-01 $229,950 (8.8%) $236,458 (8.3%) 0.00 513
    2018-09-01 $229,900 (9.5%) $232,113 (6.2%) 0.00 488
    2018-10-01 $223,850 (9.2%) $225,466 (7.0%) 0.00 451
    2018-11-01 $222,450 (11.5%) $225,133 (10.2%) 0.00 404
    2018-12-01 $219,900 (11.6%) $225,804 (10.0%) 0.00 354
    2019-01-01 $214,900 (7.6%) $221,481 (7.9%) 0.00 301
    2019-02-01 $223,125 (12.0%) $225,758 (11.5%) 0.00 296
    2019-03-01 $226,071 (7.7%) $227,912 (4.9%) 0.00 322
    2019-04-01 $224,950 (4.4%) $229,335 (0.4%) 0.00 357
    2019-05-01 $224,938 (3.6%) $235,787 (2.4%) 0.00 400
    2019-06-01 $231,451 (5.2%) $242,717 (4.1%) 0.00 450
    2019-07-01 $232,700 (-0.4%) $246,377 (4.0%) 0.00 443
    2019-08-01 $230,809 (0.4%) $239,571 (1.3%) 0.00 427
    2019-09-01 $224,673 (-2.3%) $232,896 (0.3%) 0.00 404
    2019-10-01 $220,425 (-1.5%) $228,446 (1.3%) 0.00 379
    2019-11-01 $219,900 (-1.2%) $229,928 (2.1%) 0.00 296
    2019-12-01 $214,950 (-2.3%) $220,553 (-2.3%) 0.00 241
    2020-01-01 $215,000 (0.1%) $224,468 (1.4%) 0.00 205
    2020-02-01 $215,000 (-3.6%) $227,187 (0.6%) 0.00 210
    2020-03-01 $222,400 (-1.6%) $235,591 (3.4%) 0.00 247
    2020-04-01 $227,500 (1.1%) $239,343 (4.4%) 0.00 256
    2020-05-01 $231,500 (2.9%) $245,753 (4.2%) 0.00 270
    2020-06-01 $231,375 (0.0%) $245,968 (1.3%) 0.00 277
    2020-07-01 $230,250 (-1.1%) $245,632 (-0.3%) 0.00 288
    2020-08-01 $251,450 (8.9%) $261,092 (9.0%) 0.00 274
    2020-09-01 $228,675 (1.8%) $240,268 (3.2%) 0.00 223
    2020-10-01 $215,000 (-2.5%) $235,906 (3.3%) 0.00 209
    2020-11-01 $202,475 (-7.9%) $231,544 (0.7%) 0.00 192
    2020-12-01 $203,625 (-5.3%) $234,055 (6.1%) 0.00 151
    2021-01-01 $212,400 (-1.2%) $240,286 (7.1%) 0.00 119
    2021-02-01 $203,725 (-5.2%) $238,577 (5.0%) 0.00 109
    2021-03-01 $222,200 (-0.1%) $247,277 (5.0%) 0.00 103
    2021-04-01 $245,475 (7.9%) $271,699 (13.5%) 0.00 105
    2021-05-01 $247,450 (6.9%) $281,166 (14.4%) 0.00 112
    2021-06-01 $249,950 (8.0%) $285,053 (15.9%) 0.00 152
    2021-07-01 $239,900 (4.2%) $265,535 (8.1%) 0.00 195
    2021-08-01 $249,900 (-0.6%) $278,429 (6.6%) 0.00 243
    2021-09-01 $249,975 (9.3%) $278,792 (16.0%) 0.00 225
    2021-10-01 $245,000 (14.0%) $276,245 (17.1%) 0.00 192
    2021-11-01 $241,900 (19.5%) $284,235 (22.8%) 0.00 142
    2021-12-01 $262,700 (29.0%) $302,505 (29.3%) 0.00 104
    2022-01-01 $249,450 (17.4%) $302,647 (26.0%) 0.00 81
    2022-02-01 $251,450 (23.4%) $321,373 (34.7%) 0.00 74
    2022-03-01 $300,000 (35.0%) $343,378 (38.9%) 0.00 83
    2022-04-01 $329,900 (34.4%) $355,285 (30.8%) 0.00 95
    2022-05-01 $339,450 (37.2%) $358,950 (27.7%) 0.00 116
    2022-06-01 $339,900 (36.0%) $355,100 (24.6%) 0.00 185
    2022-07-01 $339,900 (41.7%) $346,816 (30.6%) 0.00 279
    2022-08-01 $339,900 (36.0%) $347,793 (24.9%) 0.00 285
    2022-09-01 $342,450 (37.0%) $347,843 (24.8%) 0.00 263
    2022-10-01 $329,450 (34.5%) $341,346 (23.6%) 0.00 236
    2022-11-01 $328,450 (35.8%) $345,690 (21.6%) 0.00 203
    2022-12-01 $325,000 (23.7%) $341,510 (12.9%) 0.00 178
    2023-01-01 $315,750 (26.6%) $331,543 (9.6%) 0.00 144
    2023-02-01 $324,700 (29.1%) $338,502 (5.3%) 0.00 128
    2023-03-01 $330,000 (10.0%) $353,860 (3.1%) 0.00 121
    2023-04-01 $349,900 (6.1%) $367,403 (3.4%) 0.00 133
    2023-05-01 $350,000 (3.1%) $383,611 (6.9%) 0.00 138
    2023-06-01 $333,000 (-2.0%) $349,071 (-1.7%) 0.00 153
    2023-07-01 $321,000 (-5.6%) $340,681 (-1.8%) 0.00 207
    2023-08-01 $313,400 (-7.8%) $331,702 (-4.6%) 0.00 237
    2023-09-01 $320,000 (-6.6%) $333,201 (-4.2%) 0.00 274
    2023-10-01 $318,750 (-3.3%) $333,217 (-2.4%) 0.00 235
    2023-11-01 $312,400 (-4.9%) $322,389 (-6.7%) 0.00 221
    2023-12-01 $300,000 (-7.7%) $318,045 (-6.9%) 0.00 194
    2024-01-01 $305,400 (-3.3%) $316,621 (-4.5%) 0.00 166
    2024-02-01 $320,750 (-1.2%) $326,579 (-3.5%) 0.00 142
    2024-03-01 $309,000 (-6.4%) $320,703 (-9.4%) 0.00 133
    FAIRBANKS's median listing price for 2024-03-01 was $309,000, a difference of $-21,000 (-6.4%) versus the prior year and $-11,750 versus the prior month.

    FAIRBANKS's median listing price comes in at 0% of the national average.

    FAIRBANKS's average listing price for 2024-03-01 was $320,703, a difference of $-33,157 (-9.4%) versus the prior year and $-5,876 versus the prior month.

    For the 2024-03-01 period, FAIRBANKS had 133 MLS listings, a difference of -9 listings (-6%) versus the prior month and 12 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - FAIRBANKS (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,560 sqft
    2018-02-01 0 days 1,545 sqft
    2018-03-01 0 days 1,568 sqft
    2018-04-01 0 days 1,600 sqft
    2018-05-01 0 days 1,600 sqft
    2018-06-01 0 days 1,607 sqft
    2018-07-01 0 days 1,694 sqft
    2018-08-01 0 days 1,678 sqft
    2018-09-01 0 days 1,667 sqft
    2018-10-01 0 days 1,606 sqft
    2018-11-01 0 days 1,605 sqft
    2018-12-01 0 days 1,604 sqft
    2019-01-01 0 days 1,600 sqft
    2019-02-01 0 days 1,607 sqft
    2019-03-01 0 days 1,575 sqft
    2019-04-01 0 days 1,553 sqft
    2019-05-01 0 days 1,603 sqft
    2019-06-01 0 days 1,689 sqft
    2019-07-01 0 days 1,759 sqft
    2019-08-01 0 days 1,745 sqft
    2019-09-01 0 days 1,700 sqft
    2019-10-01 0 days 1,650 sqft
    2019-11-01 0 days 1,596 sqft
    2019-12-01 0 days 1,578 sqft
    2020-01-01 0 days 1,584 sqft
    2020-02-01 0 days 1,536 sqft
    2020-03-01 0 days 1,610 sqft
    2020-04-01 0 days 1,611 sqft
    2020-05-01 0 days 1,631 sqft
    2020-06-01 0 days 1,556 sqft
    2020-07-01 0 days 1,569 sqft
    2020-08-01 0 days 1,743 sqft
    2020-09-01 0 days 1,732 sqft
    2020-10-01 0 days 1,670 sqft
    2020-11-01 0 days 1,584 sqft
    2020-12-01 0 days 1,595 sqft
    2021-01-01 0 days 1,546 sqft
    2021-02-01 0 days 1,449 sqft
    2021-03-01 0 days 1,508 sqft
    2021-04-01 0 days 1,573 sqft
    2021-05-01 0 days 1,600 sqft
    2021-06-01 0 days 1,552 sqft
    2021-07-01 0 days 1,481 sqft
    2021-08-01 0 days 1,537 sqft
    2021-09-01 0 days 1,603 sqft
    2021-10-01 0 days 1,564 sqft
    2021-11-01 0 days 1,633 sqft
    2021-12-01 0 days 1,738 sqft
    2022-01-01 0 days 1,647 sqft
    2022-02-01 0 days 1,558 sqft
    2022-03-01 0 days 1,808 sqft
    2022-04-01 0 days 1,782 sqft
    2022-05-01 0 days 1,766 sqft
    2022-06-01 0 days 1,740 sqft
    2022-07-01 0 days 1,824 sqft
    2022-08-01 0 days 1,863 sqft
    2022-09-01 0 days 1,833 sqft
    2022-10-01 0 days 1,808 sqft
    2022-11-01 0 days 1,805 sqft
    2022-12-01 0 days 1,824 sqft
    2023-01-01 0 days 1,792 sqft
    2023-02-01 0 days 1,820 sqft
    2023-03-01 0 days 1,790 sqft
    2023-04-01 0 days 1,796 sqft
    2023-05-01 0 days 1,882 sqft
    2023-06-01 0 days 1,783 sqft
    2023-07-01 0 days 1,652 sqft
    2023-08-01 0 days 1,647 sqft
    2023-09-01 0 days 1,644 sqft
    2023-10-01 0 days 1,662 sqft
    2023-11-01 0 days 1,662 sqft
    2023-12-01 0 days 1,664 sqft
    2024-01-01 0 days 1,636 sqft
    2024-02-01 0 days 1,601 sqft
    2024-03-01 0 days 1,600 sqft
    FAIRBANKS's median listing age (time on market) for 2024-03-01 was 0 days.

    FAIRBANKS's median square footage for active listings during the 2024-03-01 period was 1,600 sqft. One year prior, the average listing was 1,790 sqft.

    FAIRBANKS, AK Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    99701 Fairbanks, AK MSA $840 $950 $1,250 $1,780 $2,130
    99702 Fairbanks, AK MSA $1,460 $1,660 $2,190 $3,110 $3,730
    99703 Fairbanks, AK MSA $1,460 $1,660 $2,180 $3,100 $3,710
    99705 Fairbanks, AK MSA $970 $1,100 $1,450 $2,060 $2,470
    99706 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540
    99707 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540
    99708 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540
    99709 Fairbanks, AK MSA $920 $1,050 $1,380 $1,960 $2,350
    99712 Fairbanks, AK MSA $790 $910 $1,190 $1,690 $2,040
    99714 Fairbanks, AK MSA $1,040 $1,190 $1,560 $2,220 $2,660
    99725 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540
    99760 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540
    99775 Fairbanks, AK MSA $810 $920 $1,210 $1,720 $2,060
    99790 Fairbanks, AK MSA $1,000 $1,130 $1,490 $2,120 $2,540

    2022 Average & Median Rent Data Statistics
    FAIRBANKS, AK average 1BR rent: $1,159, median: $1,130
    FAIRBANKS, AK average 2BR rent: $1,525, median: $1,490
    FAIRBANKS, AK average 3BR rent: $2,169, median: $2,120

    FAIRBANKS, AK Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 1,092 $332,900,000 $304,853
    Cash Out Refi 104 $22,010,000 $211,635
    Home Improvement 80 $6,820,000 $85,250
    Other 63 $5,895,000 $93,571
    Refi 41 $11,145,000 $271,829

    Fairbanks's most frequently cited loan purpose was Home Purchase, with 1,092 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 474 $143,460,000 $302,658
    5-6% 242 $75,430,000 $311,694
    7-8% 216 $61,310,000 $283,843
    Over 8% 107 $10,515,000 $98,271
    4-5% 22 $5,700,000 $259,091
    2.5-3% 20 $6,820,000 $341,000
    3-4% 7 $1,745,000 $249,286
    <2.5% 1 $385,000 $385,000

    During 2023, Fairbanks's most frequently originated rate bucket was 6-7%, with 474 originations.

    Loan Sizing (FAIRBANKS, AK MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 822 $245,860,000 $299,100
    $100k-200k 210 $32,520,000 $154,857
    $400k-600k 168 $76,590,000 $455,893
    $100,000 or less 161 $9,595,000 $59,596
    $600k-1000k 18 $13,000,000 $722,222
    $Over $1MM 1 $1,205,000 $1,205,000

    FAIRBANKS's loan sizing saw the bucket of loans from $200k-400k with 822 originations, totaling $245,860,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 624 $193,840,000 $310,641
    Over 100% 159 $56,815,000 $357,327
    60-80% 136 $35,660,000 $262,206
    Under 20% 65 $3,015,000 $46,385
    20-40% 57 $5,405,000 $94,825
    40-60% 35 $6,575,000 $187,857

    FAIRBANKS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 624 originations, totaling $193,840,000 in origination value.