Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 99640 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 99640 (Nondalton, AK) is $1,640 a month. That is down 9.9% from $1,820 in FY 2026. Nondalton is in the Lake and Peninsula Borough, AK non-metropolitan 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 county-wide two-bedroom FMR of $1,050. Among 13 ZIP codes in Lake and Peninsula Borough County, 99640 has the highest two-bedroom rent (county range $1,050–$1,640). The median county two-bedroom FMR in Alaska is $1,513, so ZIP 99640 is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 99640
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,590
$1,440
−9.4%
$1,296–$1,584
1BR
$1,610
$1,450
−9.9%
$1,305–$1,595
2BR
$1,820
$1,640
−9.9%
$1,476–$1,804
3BR
$2,180
$1,970
−9.6%
$1,773–$2,167
4BR
$2,410
$2,170
−10.0%
$1,953–$2,387
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 99640
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,440
$1,450
$1,640
$1,970
$2,170
FY 2026
$1,590
$1,610
$1,820
$2,180
$2,410
FY 2025
$780
$930
$1,090
$1,530
$1,720
FY 2024area FMR
$660
$820
$937
$1,320
$1,433
FY 2023area FMR
$605
$733
$863
$1,204
$1,310
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Lake and Peninsula Borough County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 99640?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,050, which applies unless the housing authority uses Small Area FMRs, that basic range is $945 to $1,155 a month; under the ZIP-level Small Area FMR of $1,640 it would be $1,476 to $1,804. 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 99640 in?
ZIP 99640 is in the Lake and Peninsula Borough, AK non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,050.
How much did fair market rent change in ZIP 99640 for FY 2027?
The two-bedroom FMR fell 9.9%, from $1,820 in FY 2026 to $1,640 in FY 2027. Since FY 2025 it has risen 50.5%.
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