Real Estate in Fairbanks
Things to do
Real Estate in Fairbanks, Alaska
Fairbanks is a great city to live in and work in. Located in the state of Alaska, Fairbanks is renowned for the northern lights that attract thousands of tourists. Also known as the midnight sun, aurora borealis, the city has sunsets and sunrises that last forever. Fairbanks is the golden heart of Alaska, exposing locals to a lot of attractions within and around the city. With its metro area being home to over 100,000 residents, Fairbanks is a great city to invest in real estate. With the second-highest population, real estate in Fairbanks, Alaska is in high demand. Other than being a popular tourist attraction city, Fairbanks has more to offer.
History of Fairbanks
History of Fairbanks
Fairbanks was founded by Captain E.T. Barnette in August 1901. He discovered the city while on route to Tanacross, where the Eagle-Valdez trail crossed the Tanana River. Barnette intended to start a trading post in the area, and he did so by setting up a small business. More people arrived in the area, marking the start of the Fairbanks urban area. Located in the Tanana Valley, Fairbanks experienced rapid development due to its location close to major transport systems. In the early years, the Tanana Valley was an essentially agricultural area for the state of Alaska. This contributed to Fairbank's development as more businesses were done in the city. However, the establishment of the Matanuska Valley Colonization Project in 1935 affected agricultural activities in the Tanana Valley. This was because many farmers opted to take their produce to the newly created Palmer town, a few miles from the Tanana Valley. Consequently, Fairbanks experienced slow development during this period, with a few people relocating to other areas. Agricultural activities are still done in the Tanana Valley, however, they shifted to the south of Fairbanks in the areas of Delta Junction and Salcha. In Fairbank's early years, its neighborhoods were major producers of agricultural goods. This significantly contributed to the city's early development. In the first seven decades of its existence, Fairbanks experienced devastating floods that caused significant damage. Most of the city's structures were damaged, making it difficult to sustain development. Today, Fairbank's economy is highly diversified, making it one of the strongest in Alaska.
Things to do in Fairbanks
Things to do in Fairbanks
Fairbanks is one of the most established cities in Alaska and has a lot to offer. It offers the finest of Alaska's natural wonders and tourist attractions, making it a great place to be. Fairbanks is home to the University of Alaska Fairbanks campus, an institution that houses several cultural attractions and museums.
The city is also home to several state parks, some found in the larger Fairbanks area. With plenty of attractions in the city, you can be sure of year-round outdoor fun and wilderness experiences. There is also a plethora of family-friendly activities that make Fairbanks a great place to live and work.
One of the most popular attractions in Fairbank is the Fountainhead Antique Auto Museum found north of the city. The facility is part of the 105-acre Wedgewood Resort, which houses a wide range of attractions. With the resort, you will find a 75-acre wildlife sanctuary that houses some unique species.
There is also a 2000-acre waterfall refuge that gives you spectacular views of the city below. It is one of the most photographed areas in the resort, with locals and tourists enjoying the view. The museum represents the history of transportation and automobile technology in Alaska, showcasing over 100 historic cars. You will get a chance to see the remaining 1905 Sheldon Roundabout and the 1920 Argonne, the first car to be built in Alaska.
Another great attraction in the city is the Running Reindeer Ranch. This facility offers one-of-a-kind tours on a private Fairbanks ranch. It showcases a family-owned ranch with several attractions. There is space for physical activities like biking, hiking, and horseback riding. The facility is also home to a wide range of rare animal species.
Fairbanks is located in central Tanana Valley. The city straddles the Chena River found near the confluence of the Tanana River. The northern part of the city is hilly, with a chain of hills rising gradually towards the White Mountains. The Yukon River borders Fairbanks to the east and is one of the city's major sources of water. Tanana River forms the city's southern border. The Tanana Flats, a marshy and boggy area that extends 100 miles in the Alaska Range, is found east of the city. Rivers and low streams cross the Tanana River and flow into the nearby streams. The presence of several water bodies means that a significant part of Fairbanks is covered by water. This explains the low temperatures experienced in the city, with nearby villages covered in ice. Fairbanks is close to several major towns in Alaska, making it one of the most important cities in the region.
Fairbanks has an excellent population, which makes it a great city to invest in real estate. Its population has been on an upward trend in recent years, with many people moving into the city. In the 2020 United States census, Fairbanks had a population of 65,790 people, almost double the number recorded in 2010. This is a sign that the city is growing rapidly, and investing in real estate in Fairbanks, Alaska, is a noble business idea. The city has 16,789 households, and about 7,256 families.
Fairbank's population density at the 2020 census was 1,065 people per square mile. With this population density, real estate developers can consider investing in more densely populated areas of the city to attract a larger market. There were about 15,567 housing units in Fairbanks, averaging 534 units per square mile. Most residents in Fairbanks live in rental apartments, with a small percentage of locals owning homes. Real estate for sale in Fairbanks, Alaska, is in high demand given the local population. Most people live and work in the city, creating substantial demand for homes for sale.
Of all the households in Fairbanks, 40.3% had children aged under 18 years living there. Most of these houses are apartment buildings, emphasizing the need for more such buildings. Also, 47.7% of the households were married couples living together. With such a high number of tenants, real estate investors ought to construct homes that accommodate married couples. This is a great way to tap into the demanding market of real estate in Fairbanks, Alaska. With the city's median age being 28, it is also good to invest in houses that suit young people. The young working-class of Fairbanks live in apartments and townhouses, giving you an idea of what to invest in.
Fairbank's household median income was $55,383. This is one of the highest median incomes in Alaska, depicting the city's strong economy. Males in Fairbanks had a high median income of $30,838 compared to a female median of $24,883. The city's per capita income was $22,566, the second-highest in the region. With many established companies operating in the city, employment opportunities are plenty. Those looking for jobs will benefit by moving to Fairbanks. This is why investing in real estate in Fairbanks, Alaska, is an excellent idea.
Arts in Fairbanks
Arts in Fairbanks
There are various arts and entertainment options in Fairbanks. Being one of the largest cities in Alaska, the city has an expansive art and entertainment sector that keeps locals and tourists thrilled. Fairbanks and the greater metropolitan area are home to a wide range of events and attractions, all of which are renowned sites. Downtown Fairbanks is home to various art galleries and museums.
These facilities showcase the history and culture of Fairbanks. A visit to the Fairbanks Regional Museum will give you access to some of the rarest artifacts. With the city being a major tourist attraction, there are several events held annually. These events and festivals attract thousands of participants both local and national. There are also state-of-the-art amenities like restaurants and bars that offer great entertainment. There is simply no dull day in Fairbanks.
Schools in Fairbanks
Schools in Fairbanks
The Fairbanks Public Schools District serves all schools in the city. Being one of the largest school districts in Alaska, the district is in charge of five high schools, 16 elementary schools, and seven intermediate schools. There are also two special schools in the city. Besides, Fairbanks is home to several institutions of higher learning, although most of them are branches of universities based elsewhere.
Investing in real estate is a bold decision that needs you to analyze various factors including location. Fairbanks is a great location for real estate in Alaska. It has a high local population that increases the demand for homes in the city. The thriving local economy also makes it beneficial to invest in real estate in Fairbanks, Alaska.
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