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 | $1,040 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $2,050 |
| 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 | $1,120 | $172,202 | 0.65% | D |
| 2BR | $1,470 | $297,697 | 0.49% | F |
| 3BR | $2,050 | $428,257 | 0.48% | F |
| 4BR | $2,470 | $564,765 | 0.44% | F |
| 5BR | $2,865 | $634,919 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99517 in Anchorage, Alaska, for fiscal year 2024 is set at $1390. This figure represents the payment standard for Section 8 housing assistance in your area, meaning that if you decide to participate in the program, the government will pay up to $1390 per month for a qualified tenant's rent.
However, it's important to note that this does not necessarily reflect the average market rent in the area. According to recent data, the average monthly rent for ZIP 99517 is $1,631, which is higher than the FMR. This indicates that participating in the Section 8 program might result in slightly lower rental income compared to market rates.
Despite this, there is a significant demand for affordable housing in Anchorage. The renter share, which is the percentage of households that rent, stands at 39.9%. This suggests that nearly 4 out of every 10 households in your area are renters, creating a substantial pool of potential tenants who could benefit from Section 8 assistance.
If you're considering purchasing a property for a Section 8 rental, the median home value in ZIP 99517 is approximately $396,480. This figure can help you estimate the initial investment required to acquire a property suitable for a Section 8 tenant. It's also worth noting that properties must meet certain standards, including health and safety requirements, before they can be approved for the program.
Before making your decision, verify that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards ensure that the home is safe and habitable for tenants, which is a prerequisite for participation in the Section 8 program.
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.