Debt consolidation is one popular method that can help you get your debt under control and achieve financial freedom. If you’re looking for debt consolidation in Fairbanks, you may be eligible for a secure loan from a reputable lender.
Nestled in the heart of Alaska is the city of Fairbanks. A bustling hub of trade and transportation, Fairbanks is also a unique cultural center in the extreme north. From mining camps and swinging-door saloons to modern hotels and restaurants, this city has something for everyone. And with almost continuous daylight from May through July, Fairbanks is truly a land of endless summer days. But perhaps the most distinctive feature of the city is its weather. With long winter nights and snow covering the ground for six months of the year, Fairbanks is quintessentially Alaska.
In 1901, Captain E. T. Barnette founded Fairbanks accidentally when his riverboat was forced to turn back, stranding him on the Chena River. The area soon became a center of activity for prospectors during the gold rush. The settlement that grew up around Barnette’s trading post was named for Senator Charles Fairbanks of Indiana. Fairbanks was incorporated in 1903, with Barnette elected as its first mayor.
Barnette is credited with establishing telephone service, fire protection, sanitation ordinances, electricity, and steam heat in Fairbanks. However, he fell into disfavor after he was involved in a bank failure that caused many citizens to lose their savings.
Fairbanks: Cost Of Living
While many people believe that living in Alaska is expensive, the cost of living in Fairbanks is quite reasonable compared to other North American cities. In 2002, for example, Fairbanks’s price of living index was lower than in New York or Boston. In addition, the personal tax burden for Fairbanks residents is extremely low. Residents benefit from distributions from the Permanent Fund, savings account established in 1976 by voters allowing residents to receive 25 percent of the state’s royalty oil revenue. Senior citizens enjoy a $150,000 property tax exemption or a renter’s rebate. The availability of vast natural resources ensures utility costs are somewhat lower than the national average.
Fairbanks Income Stats
In 2019, Fairbanks had a median household income of $58,595. This was 28.8% lower than Alaska’s median annual income of $75,463. Compared to 2000, when Fairbanks’ median income was $40,577, this represents an increase of 30.8%. In 2019, Fairbanks’ per capita income was $32,928. This means an increase of 39.8% compared to 2000 when it was $19,814.
Slow population growth is projected in Fairbanks, especially among the working-age population. However, the Fairbanks North Star Borough has seen its population steadily increase over the past four decades. The senior population is projected to nearly triple by 2020, while the school-age population will grow about 10 percent by 2005 and then hold steady for the next 15 years. Fairbanks-area businesses that cater to the needs of seniors will prosper, but there will be more competitive by employers to find workers. The construction of the All-Alaska Pipeline is expected to bring new jobs to the area, with a total of 7,600 new jobs to the State of Alaska. Transferring military personnel to Fort Wainwright will also augment the area’s labor force. The projection for growth in the construction industry through 2012 is 15.5 percent statewide.
In 2019, the median value of a house or condo in Fairbanks was $228,949. This is up from $127,000 in 2000. In Alaska as a whole, the median value was $281,200.
- The population of Fairbanks is 32,469 people. The urban population comprises 28,562 people, while the rural population is 1,697.
- There are 13,004 houses in the town, with 10,676 of them being occupied (4,015 owners occupied, 6,359 renters occupied)
- In 2019, the average gross rent in Fairbanks, AK, was $1,365.
Taxes & Banking
There are no statewide taxes on income or sales in Alaska. However, there are local taxes on both revenue and sales, as well as property taxes. The city of Fairbanks has a property tax rate of 20.777 mills, while the City and Borough area has a property tax rate of 7.171 mills and 13.606 mills, respectively. There is also a special 5% alcohol tax in Fairbanks, and a 16% tobacco tax (8% city/8% borough)
Banner Health System’s Fairbanks Memorial Hospital is the only civilian hospital serving 98,000 people in an area of 250,000 square miles. The modern 142-bed facility has been expanded and remodeled several times since it opened in 1972. Recent additions to the hospital include a newly expanded laboratory, a Mental Health wing, and Cancer Treatment Center. Memorial Hospital’s sister hospital in Denali Center is a 110-bed facility.
Debt Relief In Fairbanks AK
Alaska is one of the most expensive states to live in, which can be a burden for many people in seasonal jobs. When their work ends at the end of the season, they often have a lot of debt.
There are many options available for dealing with debt, and it can be hard to determine which one is right for you. If you have more than $10,000 in debt, are willing to prolong your payment period, and want a simple monthly program payment, doing debt relief in Fairbanks might be the solution for you.
Have you had experiences with debt relief in Fairbanks? Do you think it is the best option? Leave your opinion in the comments!
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