HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Kenai Peninsula Borough, Alaska (FY 2027)
A two-bedroom in Kenai Peninsula Borough carries a FY 2027 Fair Market Rent of $1,390 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Kenai Peninsula keys off that figure.
Two-bedroom FMR
$1,390
+5.9% from FY 2026
Payment standard
$1,251–$1,529
90% to 110% of the FMR, two-bedroom
Income to afford
$55,600
a year, with rent at 30% of income
Rank in Alaska
18th 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 | $1,056 | $950–$1,162 | $42,240 | $20.31/hr | +6.3% |
| 1 bedroom | $1,063 | $957–$1,169 | $42,520 | $20.44/hr | +6.3% |
| 2 bedroom | $1,390 | $1,251–$1,529 | $55,600 | $26.73/hr | +5.9% |
| 3 bedroom | $1,925 | $1,733–$2,118 | $77,000 | $37.02/hr | +5.5% |
| 4 bedroom | $2,323 | $2,091–$2,555 | $92,920 | $44.67/hr | +5.5% |
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 | $2,671 | $2,404–$2,938 |
| 6 bedroom Estimate | $3,020 | $2,718–$3,322 |
| 7 bedroom Estimate | $3,368 | $3,031–$3,705 |
| 8 bedroom Estimate | $3,717 | $3,345–$4,089 |
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 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.
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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 $1,251 and $1,529. 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 $55,600 a year to afford $1,390 a month. On a 40-hour week that's $27 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%$1,251 | Voucher pays at 100%$1,390 | Voucher pays at 110%$1,529 |
|---|---|---|---|---|
| $2,500 | $750 | $501 | $640 | $779 |
| $4,000 | $1,200 | $51 | $190 | $329 |
Rate history
The two-bedroom rate went up 6% from FY 2026 ($1,312) to FY 2027 ($1,390). Since FY 2020 it's up 17% in total, about 2.2% 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 | $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 2027In effect | $1,056 | $1,063 | $1,390 | $1,925 | $2,323 | +5.9% |
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 Kenai Peninsula Borough the five published rates run from $1,056 to $2,323, 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 $1,513. Kenai Peninsula comes in at $1,390, about 8% below that, and ranks 18th of 30 in Alaska. Against the national median county ($1,063) it's about 31% above. Population is around 60,413.
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 $1,190 in 99672 (Sterling) to $1,870 in 99610 (Kasilof), a $680 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 | $1,340 | -3.6% |
| 99568 | Clam Gulch | $1,550 | +11.5% |
| 99572 | Cooper Landing | $1,570 | +12.9% |
| 99603 | Homer | $1,480 | +6.5% |
| 99605 | Hope | $1,670 | +20.1% |
| 99610 | Kasilof | $1,870 | +34.5% |
| 99611 | Kenai | $1,320 | -5.0% |
| 99631 | Moose Pass | $1,390 | 0.0% |
| 99635 | Nikiski | $1,390 | 0.0% |
| 99639 | Ninilchik | $1,240 | -10.8% |
| 99663 | Seldovia | $1,480 | +6.5% |
| 99664 | Seward | $1,650 | +18.7% |
| 99669 | Soldotna | $1,400 | +0.7% |
| 99672 | Sterling | $1,190 | -14.4% |
| 99682 | Tyonek | $1,390 | 0.0% |
Nearby counties
Two-bedroom FMR, with how each compares to Kenai Peninsula.
Anchorage Municipality
56 mi · 288,976 people
$1,529
+10%
Matanuska-Susitna Borough
106 mi · 112,988 people
$1,293
-7%
Chugach Census Area
135 mi · 6,862 people
$1,575
+13%
Kodiak Island Borough
201 mi · 12,771 people
$2,239
+61%
Copper River Census Area
220 mi · 2,626 people
$1,157
-17%
Bristol Bay Borough
238 mi · 918 people
$1,269
-9%
Denali Borough
252 mi · 1,969 people
$1,220
-12%
Lake and Peninsula Borough
255 mi · 1,013 people
$1,050
-24%
Questions people ask
$1,390 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,056 for a studio, $1,063 for one bedroom, $1,925 for three and $2,323 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 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. Free to start, no card.
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