For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 99505 (Jber, AK) is $2,290 a month. That is down 6.5% from $2,450 in FY 2026. Jber is in the Anchorage, AK HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,529. Among 28 ZIP codes in Anchorage Municipality County, 99505 has the highest two-bedroom rent (county range $1,470–$2,290). The median county two-bedroom FMR in Alaska is $1,513, so ZIP 99505 is 51% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 99505
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,730
$1,640
−5.2%
$1,476–$1,804
1BR
$1,870
$1,750
−6.4%
$1,575–$1,925
2BR
$2,450
$2,290
−6.5%
$2,061–$2,519
3BR
$3,410
$3,170
−7.0%
$2,853–$3,487
4BR
$4,110
$3,830
−6.8%
$3,447–$4,213
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 99505
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,640
$1,750
$2,290
$3,170
$3,830
FY 2026
$1,730
$1,870
$2,450
$3,410
$4,110
FY 2025
$1,630
$1,780
$2,340
$3,280
$3,930
FY 2024
$1,490
$1,660
$2,180
$3,070
$3,700
FY 2023
$1,400
$1,540
$2,030
$2,890
$3,460
Two-bedroom rent in nearby Anchorage Municipality County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 99505?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,529, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,376 to $1,682 a month; under the ZIP-level Small Area FMR of $2,290 it would be $2,061 to $2,519. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 99505 in?
ZIP 99505 is in the Anchorage, AK HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,529.
How much did fair market rent change in ZIP 99505 for FY 2027?
The two-bedroom FMR fell 6.5%, from $2,450 in FY 2026 to $2,290 in FY 2027. Since FY 2023 it has risen 12.8%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set