ZIP Code · AK

ZIP 99501

Part of Anchorage, AK

Pop. 16,175·Anchorage Borough·11th most expensive ZIP in Alaska

Median rent (all units)

$1,702/mo

Year-over-Year

+4.7%

Month-over-Month

Stable

vs US Median

-$230

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 99501 · $1,702

More affordable than 58% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,070

1 BR

$1,150

2 BR

$1,510

3 BR

$2,100

4 BR+

$2,530

Research median

$1,510/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 99501 usually run 1.6% below trend in January and 1.5% above it in August, about $53 a month apart at today's median. Based on 9 years of data.

Compared with the peak

Rent in ZIP 99501 is at its highest level since Zillow's records here began in July 2016.

Past year vs. the rest of Alaska

Rent in ZIP 99501 changed +4.7% over the year to September 2026. Across the 13 Alaska ZIP codes Zillow tracks, the typical change was +5.1%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 99501 rose 38.4% while median household income rose 21.9% ($58,149 to $70,891). Rent outpaced income.

Since before the pandemic

Rent in ZIP 99501 is 48.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 4 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($70,891) is $1,772 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,510); a 3-bedroom is $2,100.

Rank in Anchorage

3rd cheapest of 8 ZIP codes in Anchorage.

From Zillow's monthly rent index (ZORI) for ZIP 99501. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,424/yr

At $1,702/mo median

Location

CityAnchorage

StateAK

CountyAnchorage Borough

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.7% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 99501 (Anchorage, AK) is majority renter-occupied, 39.4% of residents hold a bachelor's degree or higher.

Population

16,175

Median income

$70,891

Median age

38.2

Renters

62.8%

Age distribution

16%

28.2%

26.6%

17.3%

Under 1816%

18–3428.2%

35–5426.6%

55–6411.8%

65+17.3%

Gender

53.1%

46.9%

Male53.1%

Female46.9%

Race & ethnicity

53.8%

21%

White53.8%

Black6.2%

Hispanic12%

Asian7%

Other21%

Education (25+)

27.8%

26.2%

39.4%

No HS diploma6.7%

HS diploma27.8%

Some college26.2%

Bachelor's+39.4%

Housing tenure

37.2%

62.8%

Owner37.2%

Renter62.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 99501 in Anchorage, AK has changed in 5 years

Rent

$1,188 → $1,702

up 43.3%

Income

$65,469 → $70,891

up 8.3%

Population

16,267 → 16,175

down 0.6%

Renter share

62.7% → 62.8%

+0.1 pts

Bachelor's+

36.8% → 39.4%

+2.6 pts

Compared with 2021, rent in ZIP 99501 in Anchorage, AK has climbed by $514 per month, settling near $1,702 after starting the period at $1,188. Median household income grew from $65,469 to $70,891 between 2021 and 2024, a 8.3% shift. Rent outpaced income growth by roughly 35.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 36.8% to 39.4%. Taken together, the five-year picture in ZIP 99501 in Anchorage, AK reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 99501

Last updated: October 17, 2026

ZIP code 99501 covers Anchorage, AK. The median rent here is $1,702/mo as of October 2026. A 1-bedroom rents for a median of $1,150/mo. A 2-bedroom rents for a median of $1,510/mo.

At 29% of local median household income ($70,891/yr), ZIP 99501 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 99501?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,702/mo in ZIP 99501. The local median household income is $70,891/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 99501?

Rent in ZIP 99501 has risen 4.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in July 2016.

When is the cheapest time to rent in ZIP 99501?

Asking rents in ZIP 99501 are usually lowest in January, about 1.6% below their yearly trend, and highest in August, about 1.5% above it. At today's median that is a gap of roughly $53 a month. This pattern comes from 9 years of Zillow rent data.

Has rent outpaced income in ZIP 99501?

Yes. From 2019 to 2024, rent in ZIP 99501 rose 38.4% while median household income rose 21.9%, from $58,149 to $70,891. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 99501 compare to other ZIPs in Alaska?

ZIP 99501 is one of the more affordable among Alaska ZIP codes for rent, ranking #11 of 14 at $1,702/mo. Over the year to September 2026, rent in ZIP 99501 changed +4.7%, against a typical +5.1% across the 13 Alaska ZIP codes Zillow tracks.