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 | $1,220 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,370 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,370 | $973,850 | 0.24% | F |
U.S. Census Bureau data (2024)
17.2% of residents in ZIP code 99587 are renters, indicating a modest demand for rental properties in the area. Given this statistic, it's crucial for landlords to understand the financial landscape they're operating in. $1360 is the Fair Market Rent (FMR) for Section 8 housing in ZIP 99587 for fiscal year 2024, which represents the maximum amount a landlord can receive through the program. This figure is lower than the $1,788 average market rent reported by the Census Bureau's American Community Survey, suggesting that landlords participating in Section 8 might see slightly reduced rental income compared to market rates.
$702,843 is the median home value in the region, reflecting a relatively stable housing market. The median household income of $163,704 supports the idea that tenants in this area could potentially afford higher rents, but the availability of Section 8 vouchers might still be attractive to some. Despite the lack of specific data on days on market (DOM) and the percentage of homes that have had their prices cut, the income levels suggest that the local economy is strong enough to sustain both rental and homeownership markets.
In conclusion, for ZIP 99587, landlords should weigh the benefits of guaranteed rental payments against the potential for slightly higher market rents. With a strong median income and a moderate renter population, the decision to participate in Section 8 comes down to balancing financial stability with the possibility of maximizing rental revenue. The verdict for Section 8 participation in ZIP 99587 is positive, given the financial security it offers in a region where incomes are high and the need for affordable housing persists.
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.