HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Kodiak Island Borough, Alaska (FY 2027)
$2,239 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Kodiak Island Borough, and it's the baseline every voucher in Kodiak Island is measured against.
Two-bedroom FMR
$2,239
+7.9% from FY 2026
Payment standard
$2,015–$2,463
90% to 110% of the FMR, two-bedroom
Income to afford
$89,560
a year, with rent at 30% of income
Rank in Alaska
2nd 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 | $1,559 | $1,403–$1,715 | $62,360 | $29.98/hr | +8.9% |
| 1 bedroom | $1,712 | $1,541–$1,883 | $68,480 | $32.92/hr | +8.3% |
| 2 bedroom | $2,239 | $2,015–$2,463 | $89,560 | $43.06/hr | +7.9% |
| 3 bedroom | $2,716 | $2,444–$2,988 | $108,640 | $52.23/hr | +9.2% |
| 4 bedroom | $2,943 | $2,649–$3,237 | $117,720 | $56.60/hr | +7.1% |
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 | $3,384 | $3,046–$3,722 |
| 6 bedroom Estimate | $3,826 | $3,443–$4,209 |
| 7 bedroom Estimate | $4,267 | $3,840–$4,694 |
| 8 bedroom Estimate | $4,709 | $4,238–$5,180 |
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 Kodiak Island actually rent for?
Search any address in Kodiak Island 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 $2,015 and $2,463. 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 $89,560 a year to afford $2,239 a month. On a 40-hour week that's $43 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%$2,015 | Voucher pays at 100%$2,239 | Voucher pays at 110%$2,463 |
|---|---|---|---|---|
| $2,500 | $750 | $1,265 | $1,489 | $1,713 |
| $4,000 | $1,200 | $815 | $1,039 | $1,263 |
Rate history
The two-bedroom rate went up 8% from FY 2026 ($2,075) to FY 2027 ($2,239). Since FY 2020 it's up 56% in total, about 6.6% 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 | $1,019 | $1,087 | $1,432 | $2,066 | $2,074 | — |
| FY 2021 | $969 | $1,115 | $1,469 | $1,860 | $2,176 | +2.6% |
| FY 2022 | $1,042 | $1,192 | $1,568 | $1,938 | $2,402 | +6.7% |
| FY 2023 | $1,094 | $1,243 | $1,636 | $2,023 | $2,431 | +4.3% |
| FY 2024 | $1,228 | $1,379 | $1,812 | $2,220 | $2,622 | +10.8% |
| FY 2025 | $1,280 | $1,422 | $1,866 | $2,295 | $2,474 | +3.0% |
| FY 2026 | $1,431 | $1,581 | $2,075 | $2,488 | $2,747 | +11.2% |
| FY 2027In effect | $1,559 | $1,712 | $2,239 | $2,716 | $2,943 | +7.9% |
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 Kodiak Island Borough the five published rates run from $1,559 to $2,943, studio through four bedrooms.
Kodiak Island 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 Kodiak on out.
The state median two-bedroom FMR is $1,513. Kodiak Island comes in at $2,239, about 48% above that, and ranks 2nd of 30 in Alaska. Against the national median county ($1,063) it's about 111% above. Population is around 12,771.
Rates by ZIP code
HUD also publishes Small Area FMRs for the 6 ZIP codes it covers in Kodiak Island. Two-bedroom rates run from $1,870 in 99643 (Old Harbor) to $2,270 in 99550 (Port Lions), a $400 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.
Nearby counties
Two-bedroom FMR, with how each compares to Kodiak Island.
Lake and Peninsula Borough
138 mi · 1,013 people
$1,050
-53%
Bristol Bay Borough
152 mi · 918 people
$1,269
-43%
Kenai Peninsula Borough
201 mi · 60,413 people
$1,390
-38%
Dillingham Census Area
220 mi · 4,724 people
$1,295
-42%
Anchorage Municipality
257 mi · 288,976 people
$1,529
-32%
Matanuska-Susitna Borough
307 mi · 112,988 people
$1,293
-42%
Chugach Census Area
308 mi · 6,862 people
$1,575
-30%
Bethel Census Area
372 mi · 18,394 people
$1,971
-12%
Questions people ask
$2,239 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,559 for a studio, $1,712 for one bedroom, $2,716 for three and $2,943 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 Kodiak Island actually go for?
HUD's number is one input. Search any address in Kodiak Island for a rent estimate built from nearby comps. Free to start, no card.
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