HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Kenai Peninsula Borough, Alaska (FY 2026)
A two-bedroom in Kenai Peninsula Borough carries a FY 2026 Fair Market Rent of $1,312 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Kenai Peninsula keys off that figure.
2 bedroom FMR
$1,312
FY 2026, utilities included
Payment standard range
$1,181 to $1,443
90% to 110% of FMR
Income to afford 2BR
$52,480
per year, at 30% of income
Rank in Alaska
21st of 30
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Kenai Peninsula moves to $1,390. That's up 6%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Kenai Peninsula actually rent for?
Search any address in Kenai Peninsula 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 | $993 | $894 to $1,092 | $39,720 | $19.10/hr | +5.3% |
| 1 bedroom | $1,000 | $900 to $1,100 | $40,000 | $19.23/hr | +5.4% |
| 2 bedroom | $1,312 | $1,181 to $1,443 | $52,480 | $25.23/hr | +5.4% |
| 3 bedroom | $1,825 | $1,643 to $2,008 | $73,000 | $35.10/hr | +4.6% |
| 4 bedroom | $2,201 | $1,981 to $2,421 | $88,040 | $42.33/hr | +5.3% |
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 | $2,531 | $2,278 to $2,784 |
| 6 bedroom Estimate | $2,861 | $2,575 to $3,147 |
| 7 bedroom Estimate | $3,191 | $2,872 to $3,510 |
| 8 bedroom Estimate | $3,522 | $3,170 to $3,874 |
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 Kenai Peninsula Borough the five published rates run from $993 to $2,201, studio through four bedrooms.
Kenai Peninsula is a nonmetro borough, so HUD sets its FMR from rents in the borough itself rather than a wider metro. The number applies borough-wide, from Anchor Point on out.
The state median two-bedroom FMR is $1,424. Kenai Peninsula comes in at $1,312, about 8% below that, and ranks 21st of 30 in Alaska. Against the national median county ($1,018) it's about 29% above. Population is around 59,235.
Rates by ZIP code
HUD also publishes Small Area FMRs for the 15 ZIP codes it covers in Kenai Peninsula. Two-bedroom rates run from $1,130 in 99639 (Ninilchik) to $1,560 in 99610 (Kasilof), a $430 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 |
|---|---|---|---|
| 99556 | Anchor Point | $1,280 | -2.4% |
| 99568 | Clam Gulch | $1,440 | +9.8% |
| 99572 | Cooper Landing | $1,490 | +13.6% |
| 99603 | Homer | $1,410 | +7.5% |
| 99605 | Hope | $1,530 | +16.6% |
| 99610 | Kasilof | $1,560 | +18.9% |
| 99611 | Kenai | $1,250 | -4.7% |
| 99631 | Moose Pass | $1,310 | -0.2% |
| 99635 | Nikiski | $1,310 | -0.2% |
| 99639 | Ninilchik | $1,130 | -13.9% |
| 99663 | Seldovia | $1,130 | -13.9% |
| 99664 | Seward | $1,560 | +18.9% |
| 99669 | Soldotna | $1,330 | +1.4% |
| 99672 | Sterling | $1,130 | -13.9% |
| 99682 | Tyonek | $1,310 | -0.2% |
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 $1,181 and $1,443. 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 $52,480 a year to afford $1,312 a month. On a 40-hour week that's $25 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% ($1,181) | HAP at 100% ($1,312) | HAP at 110% ($1,443) |
|---|---|---|---|---|
| $2,500 | $750 | $431 | $562 | $693 |
| $4,000 | $1,200 | $0 | $112 | $243 |
Rate history
The two-bedroom rate went up 5% from FY 2025 ($1,245) to FY 2026 ($1,312). Since FY 2020 it's up 10% in total, about 1.6% 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 | $896 | $905 | $1,192 | $1,604 | $1,723 | — |
| FY 2021 | $814 | $817 | $1,077 | $1,494 | $1,624 | -9.6% |
| FY 2022 | $815 | $820 | $1,072 | $1,507 | $1,662 | -0.5% |
| FY 2023 | $901 | $903 | $1,179 | $1,676 | $1,895 | +10.0% |
| FY 2024 | $984 | $990 | $1,301 | $1,833 | $2,090 | +10.3% |
| FY 2025 | $943 | $949 | $1,245 | $1,745 | $2,091 | -4.3% |
| FY 2026 | $993 | $1,000 | $1,312 | $1,825 | $2,201 | +5.4% |
| FY 2027 | $1,056 | $1,063 | $1,390 | $1,925 | $2,323 | +5.9% |
Nearby counties
Anchorage Municipality
$1,63156 mi · pop 290,674
Matanuska-Susitna Borough
$1,376106 mi · pop 108,661
Chugach Census Area
$1,506135 mi · pop 7,000
Kodiak Island Borough
$2,075201 mi · pop 13,065
Copper River Census Area
$1,130220 mi · pop 2,614
Bristol Bay Borough
$1,243238 mi · pop 854
Denali Borough
$1,187252 mi · pop 2,101
Lake and Peninsula Borough
$1,030255 mi · pop 999
Questions people ask
$1,312 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $993 for a studio, $1,000 for one bedroom, $1,825 for three and $2,201 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 Kenai Peninsula actually go for?
HUD's number is one input. Search any address in Kenai Peninsula for a rent estimate built from nearby comps. 3 free searches, no card.
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