If a guy was going to live with his wife and kids on $3500 a month to go to grad school what would be cheaper.

Anchorage or Fairbanks?

I have only lived in Sitka and Barrow, so I am not so great on this.

I have a feeling that Fairbanks is cheaper by a long shot, but I don't really know.

We don't have to buy anything, but it would probably be cheaper if we did.

I mean we don't have to buy a house, but then again that is probably the best option.

kinda boils down to which has the better school for your major, which is going to give you the best deal, and which has the best placement record. as a grad student you should expect that the school will at least subsidize a bunch of the cost with teaching undergrad classes

If scenery etc is part of the equation I would take Anchorage hands down. I agree though that the best school wins.
Watson Lake

Fairbanks would be more $pendy for the cost of living.
There's more options for most everything here in Anch.

If you like wood smoke, ice fog, frozen pipes and car trouble--go to Fairbanks. You will enjoy these things from October to April. This past winter was bad enough in Anchorage where the all-time snowfall record was just broken yesterday (133 inches). There were a couple of long cold snaps with temps zero to minus 15. Fairbanks had prolonged minus 40 or colder. Trust me, there's a huge difference between minus 15 and minus 40. Some folks call it an adventure to live in Fairbanks. My winters there were pure misery. For me, if UAA or APU had the degree programs I needed, there would be no further decisions to make. But your mileage may vary.

Thanks!

I lived in Barrow for a long time without a garage to park the car in. I understand Fairbanks has weather issues.

UAF has always been geared more towards mining, engineering than UAA. UAA more towards education related majors. Anch is the economic hub of Ak, more employment opportunities. You don't have the minus 60 for a few weeks every winter in Anch. Prices are a little cheaper in Anchorage than Fairbanks. All in all, I'm happy enough to live 500 miles away from both of them urban centers; but could live in either place a few years if I had to. Anch always has always seemed cleaner, classier but Fairbanks always run down in the typical Alaskan way. I remember when I first got here, was shocked at how everything looked like tobacco road, junk piles everywhere in yards. It too me awhile to realize the junk piles were their treasures; just the for real Alaska.

I forgot--not only are the winters miserable in Fairbanks but several summers in recent years have had really, really bad smoke from wildfires. Just about unbearable most of the summer.

Wellll...
As mentioned, UAF has a top notch program mining, geology, etc. The severe winters just help keep the riff-raff out - GOOD!! This past Jan. was rather on the chilly side but right now we've temps approaching 50+ and days have about 14 hrs. of daylight. About the cheapest gas is $4.29/gal. (as I write this but it'll change in the next 10 min). Fuel oil for the house is $4.14/gal. as of the last time we bought it. We don't have any sales tax tho (except for the town of North Pole). We have a helluva lot fewer people (hurrah) than the Anchortown area too. If I'm not mistaken, Anch. has natural gas - we don't. And, believe it or not, but we even have our share of libtards, generally living in their holes in the ground near/around the university. As an aside, there is a good oceanographic program at UAF in the vestiges of the Institute of Marine Science.
In short, I'm with those that think the best bet is the institution that provides the best program you're interested in. I for sure would never live in the Anchortown area tho. Just me.
Bear in Fairbanks

Kinda green around the ears since I've only been in AK for three months but I have a few patients from the Fairbanks area so can make a few comparisons. In Fairbanks you will have higher living expenses and everything that the others have mentioned above seems to run true, your call.

If you need more definitive info for the Anchorage area just PM me.

Dirk

It is only going to be for a couple of years, so I guess it doesn't matter too much.

Thanks again all,

I am the parent of a student at UAF, and I have several friends on the facuilty in the geological engineering department. I have a lot of respect for the majority of the faculty members I have met there, and have been very happy with the quality of the educational institution. UAF is better known and has a better general reputation than UAA, if that is any consideration. On benefit of Fairbanks is that the public transit system is decent; my kid lives off campus and has been able to get by without a car. As long as both schools have the program you want, you can't go too far wrong with either. However, from the standpoint of future employment, go with the best program for your major.

You are closer to the ocean down in Anchorage. However, if you are thinking about doing your teaching practicum UAF has a very nice sweetspot with FNSBSD.

Groceries and gas cost about the same.

Real Estate prices are much more reasonable in Fairbanks.

Both places have good people.

Sincerely,
Thomas

The water isn't a big draw, it would be if we were headed to Valdez or SE.

Thanks though!

It appears as though we can buy into a resonable four plex or 5 plex in decent shape to live in and rent while we are there. Then keep for a rental property.

Between a measily military retirement, military disability, and the new Post 9/11 GI bill housing stipend, life should be pretty good.

Does Fairbanks have a good number of rentals?

Every real estate agent I talked to told me that rental property was a great investment in Fairbanks. Not sure how trustworthy that advice is, but we'll see.

If you're only going to be in either location for 2 years, I'd highly advise against purchasing real estate. It really takes a good year in a location to get a feel for the real estate market. Also everyone I know who has had a rental has regretted it. If you're going to be moving out of state then you'll have to pay someone to manage your property and that eats up all of your profit.

One thing to consider in the cost equation is winter heating. Fairbanks residenses heat with fuel oil, Anchorage is natural gas. The combination of colder winters and more expensive fuel means winter heating in Fairbanks is double that of Anchorage.

Both schools are good with pros and cons.

quote:

Every real estate agent I talked to told me that rental property was a great investment in Fairbanks. Not sure how trustworthy that advice is, but we'll see.

Do you think they have a wee bit of vested interest in telling you this? Would they ever advise you not to buy?

Hands down, Anchorage is a better spend for your dollar.

I didn't grow up in a family of real estate tycoons, but I my father in law has made his living in real estate rentals for 20 years.

I also have a friend that is a doctor that put herself through medschool doing rental properties.

She actually makes enough that she's isn't doing medical work other than for doctors without borders via the Catholic Church in Rwanda and Nigeria.

I have good mentors, and both Anchorage and Fairbanks have situations that help their cause on rental property.

Multiple military bases, good economies, and big colleges.

I have to have a place to live anyway, why pay rent, and give some other asshole my $.

I suggest that you check this out very well. The market isn't that great.

I damn sure wouldn't do it for a 2 yr stint. If you're planning on carrying a full load at school why worry about a leaky sink or shoveling the driveway?

Coming back to this thread again, I'd add that there's no way I'd own a rental here in the Fairtown area. You're going to school, you don't need the added headaches of running a rental. In addition, looks as if the F-16 fighter wing is gonna be going to Anch. Quite a few families going with it. More depressing real estate values with more competition from rental unit owners.
In addition, you better watch out for the local scumbags that will trash your place. We know a military couple who owned their house. They were transferred to the Lower-48 & they decided to rent their place out. Even had managers to run it. Turns out, the renters left & the place froze up. Frozen pipes. My wife & I were royally screwed by the local bastid that "bought" my previous place. Wasn't the best built nor did it have all of the amenities. That SOB was so far behind in payments & property taxes we had to get a lawyer to throw the scumbag out. In addition, he trashed the house, garage & property. He got to stay there for free for 6 months while our complaint worked its way thru the legal system. Total cost to us was $10,000 for legal fees and a contractor to clean the place up.
You couldn't give me a rental property to run or manage. It ain't worth the hassle/investment.
Go to school & get your degree. Pay rent or maybe a 2 year lease while in school & don't fight real estate problems.
In addition, IF you decide on the Fairbanks area, make certain the water is good. Many places outside of the city have bad water. IF you decide to rent/lease outside of town, double check the water quality. Many people have water hauled by commercial suppliers.
In closing, if you decide on coming to the Interior, welcome & enjoy your stay.
Bear in Fairbanks

Thanks all,

As I press forward getting closer to retirement of course the scary part is who the heck knows what is going to happen with economy, and we always seem to have another kid on the way.

Really excited about moving back to Alaska, have no idea where or what I'll be doing. I have had almost 20 years to figure out what I wanted to do when I retired from the military.

And I know less today than when I was 18.

I don't know the real estate market in AK so can't really provide specific advise. More of a general comment in response to the statement that "everyone I know who has had rentals, regrets it". I've heard that comment from folks for the last 30 years. I think it is a statement from folks that don't view rentals as the business they are. With any business, there are problems which must be addressed. As the owner of any business, that entails handling problems at odd hours and on your "Days Off"!

I've owned, operated, and sold several rental properties since 1986. Some long distance, some not. Some have paid off, some not. Some with promising long term prospects didn't fair well and some just the opposite. Overall, I've done well with them. The occasional call at inopportune times to fix this or that just never really bothered me. I can certainly see how some would be irritated with it however.

Rentals can be great (or horrible). If you're interested in them, just learn the market. Don't be afraid of them, but do realize owning rental properties is a business like any other. It isn't a hands off operation and I think that is where most people get disillusioned by them.

Good luck in your Military retirement and thanks for your service.