Location: Bethel Census Area, AK | Metro: Anchorage, AK HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,550 | $164,625 | 0.94% | C |
| 2BR | $1,750 | $256,672 | 0.68% | D |
| 3BR | $2,100 | $366,316 | 0.57% | F |
| 4BR | $2,470 | $417,447 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 99503, located in Anchorage, AK, within the Bethel Census Area, presents a unique profile when compared to typical ZIP codes in the same area. The Fair Market Rent (FMR) for 99503 is set at $1,220 for the fiscal year 2024, whereas the average FMR for a two-bedroom home in the Bethel Census Area is higher at $1,819. This discrepancy highlights that 99503 is more affordable for renters compared to the broader Bethel Census Area.
The market rent in 99503 is $1,399, which is also lower than the average FMR for the area. Additionally, the median home value in 99503 is $321,887, which is significantly lower than the average home values seen in the Bethel Census Area. These factors combined indicate that 99503 is likely a value pocket within its metro, offering affordability to both renters and potential homeowners.
A high renter share of 68.2% in 99503 further supports its classification as a value pocket. This high percentage of renters alongside lower home values often signals an area that is attractive for Section 8 participants, who frequently look for more affordable housing options. Landlords and small-portfolio investors in this ZIP code can benefit from the demand for rental properties and the availability of Section 8 vouchers.
In summary, based on the provided figures, 99503 stands out as a value pocket within the Bethel Census Area, offering more affordable housing options compared to the broader region. This makes it a favorable location for those seeking subsidized housing and a promising investment opportunity for landlords and investors looking to capitalize on the rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.