HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Anchorage Municipality, Alaska (FY 2026)
A two-bedroom in Anchorage Municipality carries a FY 2026 Fair Market Rent of $1,631 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Anchorage Municipality keys off that figure.
2 bedroom FMR
$1,631
FY 2026, utilities included
Payment standard range
$1,468 to $1,794
90% to 110% of FMR
Income to afford 2BR
$65,240
per year, at 30% of income
Rank in Alaska
8th of 30
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Anchorage Municipality moves to $1,529. That's down 6%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Anchorage Municipality actually rent for?
Search any address in Anchorage Municipality for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,152 | $1,037 to $1,267 | $46,080 | $22.15/hr | +5.8% |
| 1 bedroom | $1,243 | $1,119 to $1,367 | $49,720 | $23.90/hr | +4.4% |
| 2 bedroom | $1,631 | $1,468 to $1,794 | $65,240 | $31.37/hr | +4.4% |
| 3 bedroom | $2,268 | $2,041 to $2,495 | $90,720 | $43.62/hr | +3.6% |
| 4 bedroom | $2,736 | $2,462 to $3,010 | $109,440 | $52.62/hr | +4.2% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,146 | $2,831 to $3,461 |
| 6 bedroom Estimate | $3,557 | $3,201 to $3,913 |
| 7 bedroom Estimate | $3,967 | $3,570 to $4,364 |
| 8 bedroom Estimate | $4,378 | $3,940 to $4,816 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
HUD sets Fair Market Rent once a year, based on what typical units in the area actually rent for, with utilities folded in. FY 2026 runs October 1, 2025 through September 30, 2026, and in Anchorage Municipality the five published rates run from $1,152 to $2,736, studio through four bedrooms.
Anchorage Municipality is its own HUD metro area (Anchorage, AK), so the rate here is set from rents inside the county rather than a wider region.
The state median two-bedroom FMR is $1,424. Anchorage Municipality comes in at $1,631, about 15% above that, and ranks 8th of 30 in Alaska. Against the national median county ($1,018) it's about 60% above. Population is around 290,674.
Rates by ZIP code
HUD also publishes Small Area FMRs for the 30 ZIP codes it covers in Anchorage Municipality. Two-bedroom rates run from $1,030 in 99695 (Anchorage) to $2,450 in 99505 (Jber), a $1,420 spread inside one county. Whether your housing authority uses the ZIP rate or the county rate depends on whether HUD has designated this area for Small Area FMRs. Ask the PHA which one it's on before you price a unit.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 99501 | Anchorage | $1,510 | -7.4% |
| 99502 | Anchorage | $1,770 | +8.5% |
| 99503 | Anchorage | $1,710 | +4.8% |
| 99504 | Anchorage | $1,730 | +6.1% |
| 99505 | Jber | $2,450 | +50.2% |
| 99506 | Jber | $2,220 | +36.1% |
| 99507 | Anchorage | $1,750 | +7.3% |
| 99508 | Anchorage | $1,560 | -4.4% |
| 99509 | Anchorage | $1,630 | -0.1% |
| 99510 | Anchorage | $1,630 | -0.1% |
| 99511 | Anchorage | $1,630 | -0.1% |
| 99513 | Anchorage | $1,630 | -0.1% |
| 99514 | Anchorage | $1,630 | -0.1% |
| 99515 | Anchorage | $1,940 | +18.9% |
| 99516 | Anchorage | $2,060 | +26.3% |
| 99517 | Anchorage | $1,470 | -9.9% |
| 99518 | Anchorage | $1,820 | +11.6% |
| 99519 | Anchorage | $1,630 | -0.1% |
| 99520 | Anchorage | $1,630 | -0.1% |
| 99521 | Anchorage | $1,630 | -0.1% |
| 99522 | Anchorage | $1,630 | -0.1% |
| 99523 | Anchorage | $1,630 | -0.1% |
| 99524 | Anchorage | $1,630 | -0.1% |
| 99529 | Anchorage | $1,631County rate | — |
| 99530 | Anchorage | $1,630 | -0.1% |
| 99540 | Indian | $1,890 | +15.9% |
| 99567 | Chugiak | $1,690 | +3.6% |
| 99577 | Eagle River | $2,030 | +24.5% |
| 99587 | Girdwood | $1,470 | -9.9% |
| 99599 | Anchorage | $1,630 | -0.1% |
| 99695 | Anchorage | $1,030 | -36.8% |
What a voucher pays here
The FMR isn't the check you'd receive. Your local housing authority turns it into a payment standard, set between 90% and 110% of FMR, so a two-bedroom here lands between $1,468 and $1,794. Subtract about 30% of the tenant's income and that's the housing assistance payment. If you ask more than similar unassisted units rent for, the PHA's rent reasonableness check will push back.
At the standard 30% of income, a household needs about $65,240 a year to afford $1,631 a month. On a 40-hour week that's $31 an hour.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,468) | HAP at 100% ($1,631) | HAP at 110% ($1,794) |
|---|---|---|---|---|
| $2,500 | $750 | $718 | $881 | $1,044 |
| $4,000 | $1,200 | $268 | $431 | $594 |
Rate history
The two-bedroom rate went up 4% from FY 2025 ($1,563) to FY 2026 ($1,631). Since FY 2020 it's up 25% in total, about 3.8% a year. The Alaska median moved up 1% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $935 | $991 | $1,305 | $1,883 | $2,291 | — |
| FY 2021 | $877 | $926 | $1,220 | $1,746 | $2,112 | -6.5% |
| FY 2022 | $877 | $948 | $1,248 | $1,773 | $2,136 | +2.3% |
| FY 2023 | $932 | $1,027 | $1,352 | $1,921 | $2,303 | +8.3% |
| FY 2024 | $996 | $1,107 | $1,454 | $2,049 | $2,467 | +7.5% |
| FY 2025 | $1,089 | $1,191 | $1,563 | $2,190 | $2,625 | +7.5% |
| FY 2026 | $1,152 | $1,243 | $1,631 | $2,268 | $2,736 | +4.4% |
| FY 2027 | $1,095 | $1,169 | $1,529 | $2,117 | $2,556 | -6.3% |
Nearby counties
Matanuska-Susitna Borough
$1,37650 mi · pop 108,661
Kenai Peninsula Borough
$1,31256 mi · pop 59,235
Chugach Census Area
$1,506114 mi · pop 7,000
Copper River Census Area
$1,130180 mi · pop 2,614
Denali Borough
$1,187197 mi · pop 2,101
Kodiak Island Borough
$2,075257 mi · pop 13,065
Fairbanks North Star Borough
$1,676271 mi · pop 96,299
Yukon-Koyukuk Census Area
$1,126273 mi · pop 5,355
Questions people ask
$1,631 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,152 for a studio, $1,243 for one bedroom, $2,268 for three and $2,736 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Anchorage Municipality actually go for?
HUD's number is one input. Search any address in Anchorage Municipality for a rent estimate built from nearby comps. 3 free searches, no card.
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