Moving in or out mid-month in Fairbanks? Enter your monthly rent and date to calculate exactly what you owe for a partial month, with Alaska deposit and notice rules for 2026.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Prorated rent is what you pay for a partial month when you move in or out on a day other than the first. With average Fairbanks rent near $1,150/month, the standard method divides monthly rent by the days in the month and multiplies by days occupied. Alaska caps the security deposit at two months' rent (excluding pet deposits) and requires the landlord to return it, with an itemized statement of any deductions, within 14 days of move-out (or 30 days if the tenant did not give proper notice). A 30-day written notice generally ends a month-to-month tenancy.
| Rule (Alaska) | Detail |
|---|---|
| Average 1-bedroom rent | $1,150/month |
| Average 2-bedroom rent | $1,450/month |
| Security deposit limit | two months' rent |
| Deposit return deadline | 14 to 30 days after move-out |
| Month-to-month notice | 30 days written notice |
| Standard proration formula | Rent ÷ days in month × days occupied |
Example: rent is $1,150, move-in is the 10th of a 30-day month, so 21 days remain. Prorated rent is ($1,150 ÷ 30) × 21 = $805.
Fairbanks is the largest city in Alaska's interior, home to the University of Alaska Fairbanks and Fort Wainwright and Eielson Air Force Base, with an economy built on the military, higher education and Arctic research, gold mining, and tourism centered on the northern lights.
| Local Metric | Fairbanks (2026 estimate) |
|---|---|
| Metro population | 32,000 |
| County / jurisdiction | Fairbanks North Star Borough |
| Cost of living index (US avg = 100) | 133 |
| MIT living wage, single adult | $22.00/hour |
| MIT living wage, one earner supporting a family of four | $44.50/hour |
| Applicable minimum wage | $11.91/hour |
| Average rent, 1-bedroom | $1,150/month |
| Average rent, 2-bedroom | $1,450/month |
| Median home price | $320,000 |
| Median household income | $78,000/year |
| Combined sales tax rate | 0% |
| Effective property tax rate | 1.4% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
Divide your monthly rent by the number of days in the move-in month, then multiply by the days you occupy the unit. For example, $1,150 rent divided by 30 days times 15 days occupied is $575. Use the calculator above for your dates.
Average rent in Fairbanks is about $1,150/month for a 1-bedroom and $1,450 for a 2-bedroom, which is why getting proration right matters when you move mid-month.
In Alaska the security deposit limit is two months' rent. The deposit must be returned within 14 to 30 days of move-out with an itemized statement of any deductions. Alaska caps the security deposit at two months' rent (excluding pet deposits) and requires the landlord to return it, with an itemized statement of any deductions, within 14 days of move-out (or 30 days if the tenant did not give proper notice). A 30-day written notice generally ends a month-to-month tenancy.
In Alaska, 30 days of written notice generally ends a month-to-month tenancy, though your lease may require more. Notice timing also affects your final prorated rent.
There is no statute mandating a specific proration method in Alaska, but most landlords prorate as standard practice. Confirm the method in writing in your lease before signing to avoid disputes.