HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Anchorage Municipality, Alaska (FY 2027)
A two-bedroom in Anchorage Municipality carries a FY 2027 Fair Market Rent of $1,529 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Anchorage Municipality keys off that figure.
Two-bedroom FMR
$1,529
-6.3% from FY 2026
Payment standard
$1,376–$1,682
90% to 110% of the FMR, two-bedroom
Income to afford
$61,160
a year, with rent at 30% of income
Rank in Alaska
14th of 30
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,095 | $986–$1,205 | $43,800 | $21.06/hr | -4.9% |
| 1 bedroom | $1,169 | $1,052–$1,286 | $46,760 | $22.48/hr | -6.0% |
| 2 bedroom | $1,529 | $1,376–$1,682 | $61,160 | $29.40/hr | -6.3% |
| 3 bedroom | $2,117 | $1,905–$2,329 | $84,680 | $40.71/hr | -6.7% |
| 4 bedroom | $2,556 | $2,300–$2,812 | $102,240 | $49.15/hr | -6.6% |
Five to eight 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 | $2,939 | $2,645–$3,233 |
| 6 bedroom Estimate | $3,323 | $2,991–$3,655 |
| 7 bedroom Estimate | $3,706 | $3,335–$4,077 |
| 8 bedroom Estimate | $4,090 | $3,681–$4,499 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
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.
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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 $1,376 and $1,682. 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 $61,160 a year to afford $1,529 a month. On a 40-hour week that's $29 an hour.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,376 | Voucher pays at 100%$1,529 | Voucher pays at 110%$1,682 |
|---|---|---|---|---|
| $2,500 | $750 | $626 | $779 | $932 |
| $4,000 | $1,200 | $176 | $329 | $482 |
Rate history
The two-bedroom rate went down 6% from FY 2026 ($1,631) to FY 2027 ($1,529). Since FY 2020 it's up 17% in total, about 2.3% a year. The Alaska median moved up 6% over the same year.
| Fiscal 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 2027In effect | $1,095 | $1,169 | $1,529 | $2,117 | $2,556 | -6.3% |
About this rate
HUD sets Fair Market Rent once a year, based on what typical units in the area actually rent for, with utilities folded in. FY 2027 runs October 1, 2026 through September 30, 2027, and in Anchorage Municipality the five published rates run from $1,095 to $2,556, 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 $1,513. Anchorage Municipality comes in at $1,529, within a couple percent of that, and ranks 14th of 30 in Alaska. Against the national median county ($1,063) it's about 44% above. Population is around 288,976.
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 $1,050 in 99695 (Anchorage) to $2,290 in 99505 (Jber), a $1,240 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 | $1,480 | -3.2% |
| 99502 | Anchorage | $1,670 | +9.2% |
| 99503 | Anchorage | $1,750 | +14.5% |
| 99504 | Anchorage | $1,610 | +5.3% |
| 99505 | Jber | $2,290 | +49.8% |
| 99506 | Jber | $2,060 | +34.7% |
| 99507 | Anchorage | $1,630 | +6.6% |
| 99508 | Anchorage | $1,510 | -1.2% |
| 99509 | Anchorage | $1,530 | +0.1% |
| 99510 | Anchorage | $1,530 | +0.1% |
| 99511 | Anchorage | $1,530 | +0.1% |
| 99513 | Anchorage | $1,530 | +0.1% |
| 99514 | Anchorage | $1,530 | +0.1% |
| 99515 | Anchorage | $1,790 | +17.1% |
| 99516 | Anchorage | $1,860 | +21.6% |
| 99517 | Anchorage | $1,470 | -3.9% |
| 99518 | Anchorage | $1,710 | +11.8% |
| 99519 | Anchorage | $1,480 | -3.2% |
| 99520 | Anchorage | $1,530 | +0.1% |
| 99521 | Anchorage | $1,530 | +0.1% |
| 99522 | Anchorage | $1,530 | +0.1% |
| 99523 | Anchorage | $1,530 | +0.1% |
| 99524 | Anchorage | $1,530 | +0.1% |
| 99529 | Anchorage | $1,529County rate | — |
| 99530 | Anchorage | $1,530 | +0.1% |
| 99540 | Indian | $1,810 | +18.4% |
| 99567 | Chugiak | $1,530 | +0.1% |
| 99577 | Eagle River | $1,830 | +19.7% |
| 99587 | Girdwood | $1,710 | +11.8% |
| 99599 | Anchorage | $1,530 | +0.1% |
| 99695 | Anchorage | $1,050 | -31.3% |
Nearby counties
Two-bedroom FMR, with how each compares to Anchorage Municipality.
Matanuska-Susitna Borough
50 mi · 112,988 people
$1,293
-15%
Kenai Peninsula Borough
56 mi · 60,413 people
$1,390
-9%
Chugach Census Area
114 mi · 6,862 people
$1,575
+3%
Copper River Census Area
180 mi · 2,626 people
$1,157
-24%
Denali Borough
197 mi · 1,969 people
$1,220
-20%
Kodiak Island Borough
257 mi · 12,771 people
$2,239
+46%
Fairbanks North Star Borough
271 mi · 95,460 people
$1,553
+2%
Yukon-Koyukuk Census Area
273 mi · 5,195 people
$1,196
-22%
Questions people ask
$1,529 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,095 for a studio, $1,169 for one bedroom, $2,117 for three and $2,556 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The 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. Free to start, no card.
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