HUD Fair Market Rent · FY 2026 · Effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Fairbanks North Star Borough, Alaska (FY 2026)
$1,676 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Fairbanks North Star Borough, and it's the baseline every voucher in Fairbanks North Star is measured against.
Two-bedroom FMR
$1,676
+0.4% from FY 2025
Payment standard
$1,508–$1,844
90% to 110% of the FMR, two-bedroom
Income to afford
$67,040
a year, with rent at 30% of income
Rank in Alaska
6th of 30
by two-bedroom FMR, highest first
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Fairbanks North Star moves to $1,553. That's down 7%. The full FY 2027 table is in the history section below.
FY 2026 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 2025 |
|---|---|---|---|---|---|
| Studio | $1,156 | $1,040–$1,272 | $46,240 | $22.23/hr | +1.0% |
| 1 bedroom | $1,277 | $1,149–$1,405 | $51,080 | $24.56/hr | +0.4% |
| 2 bedroom | $1,676 | $1,508–$1,844 | $67,040 | $32.23/hr | +0.4% |
| 3 bedroom | $2,331 | $2,098–$2,564 | $93,240 | $44.83/hr | -0.3% |
| 4 bedroom | $2,812 | $2,531–$3,093 | $112,480 | $54.08/hr | +0.3% |
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 | $3,234 | $2,911–$3,557 |
| 6 bedroom Estimate | $3,656 | $3,290–$4,022 |
| 7 bedroom Estimate | $4,077 | $3,669–$4,485 |
| 8 bedroom Estimate | $4,499 | $4,049–$4,949 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Fairbanks North Star actually rent for?
Search any address in Fairbanks North Star 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 $1,508 and $1,844. 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 $67,040 a year to afford $1,676 a month. On a 40-hour week that's $32 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%$1,508 | Voucher pays at 100%$1,676 | Voucher pays at 110%$1,844 |
|---|---|---|---|---|
| $2,500 | $750 | $758 | $926 | $1,094 |
| $4,000 | $1,200 | $308 | $476 | $644 |
Rate history
The two-bedroom rate went up 0% from FY 2025 ($1,669) to FY 2026 ($1,676). Since FY 2020 it's up 26% in total, about 4.0% a year. The Alaska median moved up 1% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $863 | $1,006 | $1,325 | $1,911 | $2,326 | — |
| FY 2021 | $858 | $987 | $1,301 | $1,862 | $2,253 | -1.8% |
| FY 2022 | $877 | $1,003 | $1,320 | $1,875 | $2,259 | +1.5% |
| FY 2023 | $993 | $1,128 | $1,485 | $2,110 | $2,529 | +12.5% |
| FY 2024 | $1,116 | $1,253 | $1,646 | $2,320 | $2,793 | +10.8% |
| FY 2025 | $1,144 | $1,272 | $1,669 | $2,339 | $2,803 | +1.4% |
| FY 2026In effect | $1,156 | $1,277 | $1,676 | $2,331 | $2,812 | +0.4% |
| FY 2027From Oct 1, 2026 | $1,081 | $1,187 | $1,553 | $2,150 | $2,596 | -7.3% |
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 2026 runs October 1, 2025 through September 30, 2026, and in Fairbanks North Star Borough the five published rates run from $1,156 to $2,812, studio through four bedrooms.
Fairbanks North Star is its own HUD metro area (Fairbanks-College, AK), so the rate here is set from rents inside the borough rather than a wider region.
The state median two-bedroom FMR is $1,424. Fairbanks North Star comes in at $1,676, about 18% above that, and ranks 6th of 30 in Alaska. Against the national median county ($1,018) it's about 65% above. Population is around 96,299.
Rates by ZIP code
HUD also publishes Small Area FMRs for the 14 ZIP codes it covers in Fairbanks North Star. Two-bedroom rates run from $1,510 in 99701 (Fairbanks) to $2,430 in 99703 (Fort Wainwright), a $920 spread inside one borough. Whether your housing authority uses the ZIP rate or the borough 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 |
|---|---|---|---|
| 99701 | Fairbanks | $1,510 | -9.9% |
| 99702 | Eielson Afb | $2,320 | +38.4% |
| 99703 | Fort Wainwright | $2,430 | +45.0% |
| 99705 | North Pole | $1,710 | +2.0% |
| 99706 | Fairbanks | $1,510 | -9.9% |
| 99707 | Fairbanks | $1,680 | +0.2% |
| 99708 | Fairbanks | $1,680 | +0.2% |
| 99709 | Fairbanks | $1,510 | -9.9% |
| 99710 | Fairbanks | $1,680 | +0.2% |
| 99711 | Fairbanks | $1,676County rate | — |
| 99712 | Fairbanks | $1,510 | -9.9% |
| 99714 | Salcha | $1,750 | +4.4% |
| 99716 | Two Rivers | $1,676County rate | — |
| 99725 | Ester | $1,510 | -9.9% |
| 99775 | Fairbanks | $1,580 | -5.7% |
| 99790 | Fairbanks | $1,510 | -9.9% |
Nearby counties
Two-bedroom FMR, with how each compares to Fairbanks North Star.
Denali Borough
80 mi · 2,101 people
$1,187
-29%
Southeast Fairbanks Census Area
145 mi · 6,888 people
$1,313
-22%
Yukon-Koyukuk Census Area
146 mi · 5,355 people
$1,126
-33%
Copper River Census Area
210 mi · 2,614 people
$1,130
-33%
Matanuska-Susitna Borough
221 mi · 108,661 people
$1,376
-18%
Anchorage Municipality
271 mi · 290,674 people
$1,631
-3%
Chugach Census Area
276 mi · 7,000 people
$1,506
-10%
Kenai Peninsula Borough
327 mi · 59,235 people
$1,312
-22%
Questions people ask
$1,676 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,156 for a studio, $1,277 for one bedroom, $2,331 for three and $2,812 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 Fairbanks North Star actually go for?
HUD's number is one input. Search any address in Fairbanks North Star for a rent estimate built from nearby comps. 3 free searches, no card.
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