FAIRBANKS Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Fairbanks averaged 6.86% for the week of 2024-07-03, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-27) was 6.87% and one month ago for the week of 2024-05-30, the average rate was 7.04%.

Fairbanks's average rate one year ago was 6.52%.

For refis of the same type during the week of 2024-07-03, the average rate was 7.05%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-03 6.95%
Fairbanks 30 Year Fixed Rate 2024-07-03 6.86%
Fairbanks 30 Year Fixed Rate Refi 2024-07-03 7.05%
Fairbanks 15 Year Fixed Rate 2024-07-03 6.15%
Fairbanks 15 Year Fixed Rate Refi 2024-07-03 6.25%
Fairbanks 30 Year FHA 2024-07-03 6.63%
Fairbanks 30 Year FHA Refi 2024-07-03 6.82%
Fairbanks 30 Year USDA 2024-07-03 6.54%
Fairbanks 30 Year USDA Refi 2024-07-03 6.64%
Fairbanks 30 Year VA 2024-07-03 6.25%
Fairbanks 30 Year VA Refi 2024-07-03 6.58%
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
2024-04-01 $322,450 (-7.9%) $324,302 (-11.7%) 0.00 127
2024-05-01 $310,000 (-11.4%) $336,321 (-12.3%) 0.00 144
2024-06-01 $315,000 (-5.4%) $336,029 (-3.7%) 0.00 164
FAIRBANKS's median listing price for 2024-06-01 was $315,000, a difference of $-18,000 (-5.4%) versus the prior year and $5,000 versus the prior month.

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

FAIRBANKS's average listing price for 2024-06-01 was $336,029, a difference of $-13,042 (-3.7%) versus the prior year and $-292 versus the prior month.

For the 2024-06-01 period, FAIRBANKS had 164 MLS listings, a difference of 20 listings (14%) versus the prior month and 11 listings (7%) 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
2024-04-01 0 days 1,659 sqft
2024-05-01 0 days 1,644 sqft
2024-06-01 0 days 1,688 sqft
FAIRBANKS's median listing age (time on market) for 2024-06-01 was 0 days.

FAIRBANKS's median square footage for active listings during the 2024-06-01 period was 1,688 sqft. One year prior, the average listing was 1,783 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.