Cost of Living in College, AK

With a cost of living index of 101, College, AK is right around the national average in cost. Living here is 1% more expensive than the national average and 11% above the Alaska state average of 90. College is a smaller community of 11,730 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in College's cost of living. The median monthly rent is $1,405 (7% above the US median of $1,319), and the median home value sits at $279,100 (8% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in College is $76,831, which is 2% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to College. The area sees an average annual temperature of 28.3°F, with summers averaging 60°F and winters around -4°F. Annual rainfall totals 11.7 inches spread over roughly 107 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Fairbanks-College, AK (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.