Fairbanks North Star Borough

Alaska · Fairbanks-College, AK metro area · 93,972 residents (2025 est.)

FHFA annual index 1975–2025Developmental county indexPermits through August 2026

Fairbanks North Star Borough (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. FHFA describes its county indexes as developmental and subject to revision. The index does not give a dollar value for any home.

Fairbanks North Star Borough, Alaska (Fairbanks-College, AK area), has an FHFA house price index from 1975. Through 2025 it has risen +419.8%, from 100 to 520.

Over the ten years to 2025 the index rose +54.9% (+4.5% a year), close to Alaska at +52.4% and well below the national +85.0%. The Fairbanks-College, AK area rose +54.9%. The latest one-year change is +5.0%.

The strongest decade was the 1990s (+55.4%); the weakest the 2010s (+17.4%).

Builders were authorised for 18 housing units in the county in the 12 months to August 2026 (+38.5% on the previous 12 months), 0.2 units per 1,000 residents; 67% were single-family houses. Since 1995 the county has authorised 2,930 units, most in 2006.

+5.0%1 year, 2024–2025Alaska +4.1%

+35.8%5 yearsUS +47.0%

+54.9%10 years+4.5% a year annualised

+130.2%since 2000US +158.3%

18units permitted, 12 months0.2 per 1,000 residents

Same span, four levels

Change in the FHFA index	Fairbanks North Star Borough	Fairbanks-College area	Alaska	United States
1 year (2024–2025)	+5.0%	+5.0%	+4.1%	+2.8%
5 years (2020–2025)	+35.8%	+35.8%	+39.3%	+47.0%
10 years (2015–2025)	+54.9%	+54.9%	+52.4%	+85.0%
20 years (2005–2025)	+75.2%	+75.2%	+85.1%	+79.1%
Since 2000	+130.2%	+130.2%	+160.2%	+158.3%
Since 1975	+419.8%	+419.8%	+580.7%	+960.7%
10-year annualised	+4.5%	+4.5%	+4.3%	+6.3%
20-year annualised	+2.8%	+2.8%	+3.1%	+3.0%

All columns are FHFA annual all-transactions indexes over the same years.

Decade by decade

Decade	Change	United States
1990s (1990–2000)	+55.4%	+33.9%
2000s (2000–2010)	+44.4%	+29.7%
2010s (2010–2020)	+17.4%	+35.5%
2020s so far (2020–2025)	+35.8%	+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

Peak	Low	Decline	Peak regained
1984	1990	−31.4%	1997

Building permits

Housing units authorised by building permits in Fairbanks North Star Borough, by month over the latest five years and by year since 1995.

Housing units authorised in Fairbanks North Star Borough by month, latest 12 monthssingle-family2+ unit buildings

Housing units authorised in Fairbanks North Star Borough by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Fairbanks North Star Borough by year, 1995–2025single-family2+ unit buildings

Permits, 12 months to August 2026	Fairbanks North Star Borough	Alaska	United States
Housing units authorised	18	814	1,418,086
Units per 1,000 residents	0.2	1.1	4.1
Single-family share	67%	56%	63%
Change on previous 12 months	+38.5%	−14.8%	−0.1%
Units authorised since 1995	2,930	55,785	43,082,761

Population is the Census Bureau's vintage 2025 estimate. Permits authorise construction; they are not completions.

ZIP codes in Fairbanks North Star Borough

Ranked by ten-year change in the FHFA ZIP index. Where a ZIP's index ends before 2025, its spans end in that year.

ZIP	1 year	10 years	Since 2000	Index through	Years
99705	+3.1%	+59.0%	+136.6%	2025	42
99712	+8.2%	+55.6%	+124.3%	2025	41
99709	+5.1%	+53.6%	+128.1%	2025	47

Questions and answers

How much have home values in Fairbanks North Star Borough risen over 10 years?

The FHFA index for Fairbanks North Star Borough rose +54.9% from 2015 to 2025, about +4.5% a year. Over 20 years: +75.2%; since 2000: +130.2%.

How does Fairbanks North Star Borough compare with Alaska and the United States?

Over the ten years to 2025: Fairbanks North Star Borough +54.9%, Alaska +52.4%, United States +85.0%, Fairbanks-College, AK +54.9%.

What happened to Fairbanks North Star Borough prices in 2008?

The county index shows no decline of 5% or more from a 2005–2008 peak. The Alaska index fell — over —–—.

How many homes are being built in Fairbanks North Star Borough?

18 housing units were authorised by building permits in the 12 months to August 2026 (12 single-family, 0 in buildings of five or more units), or 0.2 per 1,000 residents against 1.1 for Alaska.

Where does this data come from?

The index is FHFA's annual county house price index (all-transactions, developmental), last updated March 31, 2026, with values through 2025. Permits are from the Census Bureau Building Permits Survey through August 2026; population is the Census Bureau's vintage 2025 estimate.

Provenance

Index: Federal Housing Finance Agency, annual house price index for counties (all-transactions, developmental), last updated March 31, 2026, values 1975–2025; metro, state and national comparisons from FHFA's annual indexes in the same release. Permits: Census Bureau Building Permits Survey, county and place files, through August 2026. Population: Census Bureau vintage 2025 estimates. ZIP assignment: 2020 ZCTA-to-county relationship file. Public domain throughout. Corrections · FHFA HPI datasets · Building Permits Survey.