Fairbanks renters are paying more than ever, with two-bedroom apartments now averaging $1,676 — an 8.7% jump from last year — as Alaska’s tight rental market keeps costs at 15-year highs, according to new state data.

The is according to a report published by economists Gunnar Schultz and Bob Kreiger in the September edition of Trends magazine, published by the Alaska Department of Commerce. In an annual survey using data from March, Schultz and Kreiger noted that rental market vacancies remained below historical averages, while rates continue to be above a 15-year high.

In Fairbanks, the average rent of a two-bedroom apartment with utilities jumped 8.7% to $1,676 compared to 2024. The trend was similar in the Matanuska-Susitna Borough, which also saw an 8.6% increase to $1,389 for a two-

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