Location: Anchorage, AK | Metro: Anchorage, AK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $3,120 |
| 5 Bedrooms | $3,619 |
| 6 Bedrooms | $4,053 |
| 7 Bedrooms | $4,377 |
| 8 Bedrooms | $4,596 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99516 in Anchorage, Alaska, for fiscal year 2024 is set at $2180. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit. It's important to note that this is not the actual rent you'll receive; it's the payment standard used by the Housing Choice Voucher program.
To put this into perspective, the average rent for the area is around $1,314, based on recent Census data. This means that the FMR is significantly higher than the typical market rate, offering a potential advantage to landlords who participate in the Section 8 program.
With 9.4% of the population being renters, there is a steady demand for affordable housing in this area. This percentage translates to a substantial number of potential tenants who could benefit from the Section 8 program. The total acquisition cost for a property in this ZIP code is estimated at $679,093, which is a significant investment but can be justified by the long-term stability of Section 8 payments.
Before deciding to enter the Section 8 market, ensure that your property meets all the required standards. This includes passing a housing quality standards (HQS) inspection, which verifies that your rental unit is safe, decent, and sanitary. The inspection is a critical step, as failing it can delay or prevent your participation in the program.
In summary, the FMR of $2180 provides a benchmark for what you can charge, while the local average rent of $1,314 shows that you will likely be above the market rate. With a renter share of 9.4%, there is demand for affordable housing. At an acquisition cost of $679,093, you should verify that your property meets the necessary HQS requirements to avoid any issues.
Data Sources: FMR data from HUD (2027). 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.