Location: Anchorage, 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 | $1,280 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,790 | $283,523 | 0.63% | D |
| 3BR | $2,480 | $470,094 | 0.53% | F |
| 4BR | $2,990 | $565,936 | 0.53% | F |
| 5BR | $3,468 | $693,731 | 0.5% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 99515 in Anchorage, AK, reveal a market in motion. The Fair Market Rent (FMR) for the area stands at $1670 for fiscal year 2024, while the actual market rent, as measured by ZORI (Zillow Observed Rent Index), is higher at $2,038. This suggests that the market rent exceeds the government's benchmark, indicating a robust rental demand.
A key indicator of market health is the price-cut share, which in this case is a mere 0.1%. This low figure implies that landlords are generally not having to reduce their asking rents to attract tenants, a sign that demand remains strong relative to supply. Additionally, the days on market (DOM) for rental listings is just 12 days, which is relatively short. This quick turnover further supports the notion that there is a healthy level of tenant interest in the area.
The median home value in ZIP 99515 is $468,930. While this figure alone does not provide a complete picture of the market, it can be used in conjunction with other metrics to understand the overall economic landscape. A high median home value may suggest that homeownership is relatively expensive, potentially driving up the rental market as a more accessible alternative.
The 21.1% renter share in this ZIP code is noteworthy. It indicates that a significant portion of the population is renting rather than owning property. This can exert long-term pressure on the housing market, as renters often represent a steady stream of demand that can influence both rental and purchase prices. As the renter share remains consistent, it signals an ongoing need for rental properties, which can benefit landlords and small-portfolio investors looking to capitalize on this trend.
In summary, the snapshot of ZIP 99515 points towards a market where demand appears to be keeping pace with, if not slightly outpacing, supply. The disparity between FMR and market rent, along with the low price-cut share and quick DOM, all suggest a favorable environment for landlords and investors. The substantial renter share underscores the enduring nature of rental demand, providing a stable foundation for the market's future trajectory.
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.