Fairbanks North Star Borough, AK: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,5532-bedroom FMR, FY2027

$1,1871-bedroom FMR, FY2027

$93,05080% income limit, family of 4 (FY2026)

$116,300Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Fairbanks North Star Borough is $1,553 a month, down 7.3% from $1,676 in FY2026. Fairbanks North Star Borough belongs to the Fairbanks-College, AK MSA FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Fairbanks North Star Borough by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,081	$1,156	−6.5%	$973 – $1,189
1 bedroom	$1,187	$1,277	−7.0%	$1,069 – $1,305
2 bedrooms	$1,553	$1,676	−7.3%	$1,398 – $1,708
3 bedrooms	$2,150	$2,331	−7.8%	$1,935 – $2,365
4 bedrooms	$2,596	$2,812	−7.7%	$2,337 – $2,855

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Fairbanks North Star Borough that is typically $1,398 to $1,708 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$64,047median income of renter households

$1,459Median gross rent, all units

27%Rent-to-income ratio (median rent ÷ median renter income)

46%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $64,047 can afford about $1,601 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,553 is $48 (3.0%) less than that. To rent a two-bedroom at the FMR, a household needs $62,120 a year under the 30% rule, or $55,908 under the common landlord rule that income must be three times the rent.

Fairbanks North Star Borough, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,459 ±$45
Median income of renter households	$64,047 ±$2,802
Renters paying 30% or more of income (cost-burdened)	45.9% ±4.1
Renters paying 50% or more (severely cost-burdened)	19.5% ±3.3
Renter households (where the share can be computed)	13,045

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$1,305	$1,459	+11.8%
Median renter household income	$55,686	$64,047	+15.0%
Renters paying 30%+ of income	45.3%	45.9%	+0.6 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,510 to $2,250 depending on the ZIP code.

All 15 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
99701	$1,050	$1,150	$1,510	$2,100	$2,540
99702	$1,500	$1,650	$2,160	$2,990	$3,610
99703	$1,570	$1,720	$2,250	$3,120	$3,760
99705	$1,100	$1,210	$1,580	$2,190	$2,640
99706	$1,050	$1,260	$1,510	$2,100	$2,540
99707	$1,080	$1,180	$1,550	$2,150	$2,590
99708	$1,080	$1,180	$1,550	$2,150	$2,590
99709	$1,050	$1,150	$1,510	$2,100	$2,540
99710	$1,080	$1,180	$1,550	$2,150	$2,590
99712	$1,050	$1,150	$1,510	$2,100	$2,540
99714	$1,100	$1,290	$1,580	$2,210	$2,650
99725	$1,050	$1,150	$1,510	$2,100	$2,540
99760	$1,080	$1,150	$1,510	$2,100	$2,540
99775	$1,050	$1,150	$1,510	$2,100	$2,540
99790	$1,050	$1,150	$1,510	$2,100	$2,540

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Fairbanks North Star Borough (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $116,300 (FY2025: $114,900, +1.2%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$24,450 +1.2%	$27,950 +1.3%	$34,150 +2.5%	$41,250 +2.6%	$48,350 +2.7%	$55,450 +2.8%	$62,550 +2.8%	$69,650 +2.9%
Very low income (50%)	$40,750 +1.2%	$46,550 +1.2%	$52,350 +1.2%	$58,150 +1.2%	$62,850 +1.3%	$67,500 +1.3%	$72,150 +1.3%	$76,800 +1.3%
Low income (80%)	$65,150 +1.2%	$74,450 +1.2%	$83,750 +1.2%	$93,050 +1.3%	$100,500 +1.2%	$107,950 +1.2%	$115,400 +1.2%	$122,850 +1.2%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.