Higher home prices, declining population highlighted at Greater Fairbanks Chamber of Commerce luncheon

FAIRBANKS, Alaska - Despite a decline in the Fairbanks North Star Borough population, housing prices have increased, while the job market is growing. All three trends, which are connected, don’t quite add up, it would seem. Yet, they do.

Statewide, the pandemic produced an 8.1% drop in the job market. Fairbanks faced a smaller yet detrimental drop itself at 7.7%. While the state has slowly reached employment numbers equal to or above those of 2019, prior to the pandemic, Fairbanks is further behind than other communities and the DOLW doesn’t anticipate a full recovery for 2024 in Fairbanks.

One thing acting against the loss and keeping the population higher was the influx of people when the F-35 fighter jets came to Eielson. The military population for the borough has since remained stable according to Wiebold. Although, the Dept. of Defense shows a slight decline.

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