ZIP Code · AK

ZIP 99507

Part of Anchorage, AK

Pop. 37,301·Anchorage Borough·5th most expensive ZIP in Alaska

Median rent (all units)

$1,900/mo

Year-over-Year

+2.8%

Month-over-Month

-0.1%

vs US Median

-$32

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 99507 · $1,900

More expensive than 56% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,240

1 BR

$1,330

2 BR

$1,750

3 BR

$2,430

4 BR+

$2,940

Research median

$1,750/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 99507 usually run 0.5% below trend in January and 0.9% above it in August, about $27 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 99507 is 0.2% below its high of $1,903 in July 2026, at $1,900 as of September 2026.

Past year vs. the rest of Alaska

Rent in ZIP 99507 changed +2.8% over the year to September 2026. Across the 13 Alaska ZIP codes Zillow tracks, the typical change was +5.1%.

Since before the pandemic

Rent in ZIP 99507 is 41.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($107,992) is $2,700 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,430); a 4-bedroom is $2,940.

Rank in Anchorage

6th cheapest of 8 ZIP codes in Anchorage.

Cheaper nearby

ZIP 99508, 4 miles away, rents for 16% less ($1,603/mo), about $3,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 99507. 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

$22,800/yr

At $1,900/mo median

Location

CityAnchorage

StateAK

CountyAnchorage Borough

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.8% YoY, -0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 99507 (Anchorage, AK) is majority owner-occupied, has a median income above the national average, 36.8% of residents hold a bachelor's degree or higher.

Population

37,301

Median income

$107,992

Median age

35.6

Renters

28%

Age distribution

22.1%

26.8%

26.2%

13%

Under 1822.1%

18–3426.8%

35–5426.2%

55–6412%

65+13%

Gender

51%

49%

Male51%

Female49%

Race & ethnicity

55.9%

15.1%

14.9%

White55.9%

Black5%

Hispanic9.2%

Asian15.1%

Other14.9%

Education (25+)

24.9%

33.6%

36.8%

No HS diploma4.7%

HS diploma24.9%

Some college33.6%

Bachelor's+36.8%

Housing tenure

72%

28%

Owner72%

Renter28%

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

2021 vs 2026

How ZIP 99507 in Anchorage, AK has changed in 5 years

Rent

$1,351 → $1,900

up 40.6%

Income

$93,265 → $107,992

up 15.8%

Population

35,916 → 37,301

up 3.9%

Renter share

30.3% → 28%

-2.3 pts

Bachelor's+

34.3% → 36.8%

+2.5 pts

Compared with 2021, rent in ZIP 99507 in Anchorage, AK has increased by $549 per month, settling near $1,900 after starting the period at $1,351. On the earnings side, the typical household in ZIP 99507 in Anchorage, AK now reports about $107,992, up from $93,265 in 2021. Rent outpaced income growth by roughly 24.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 35,916 to 37,301 between 2021 and 2024, a 3.9% change. About 28% of households rent today, against 30.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 34.3% to 36.8%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 99507 in Anchorage, AK reflects that arc in its own way.

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About renting in ZIP 99507

Last updated: October 17, 2026

ZIP code 99507 covers Anchorage, AK. The median rent here is $1,900/mo as of October 2026. A 1-bedroom rents for a median of $1,330/mo. A 2-bedroom rents for a median of $1,750/mo.

At 21% of local median household income ($107,992/yr), ZIP 99507 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 99507?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (about $37/hour full-time) to afford the median rent of $1,900/mo in ZIP 99507. The local median household income is $107,992/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 99507?

Rent in ZIP 99507 has risen 2.8% over the past year as of September 2026. It sits 0.2% below its high of $1,903 in July 2026.

When is the cheapest time to rent in ZIP 99507?

Asking rents in ZIP 99507 are usually lowest in January, about 0.5% below their yearly trend, and highest in August, about 0.9% above it. At today's median that is a gap of roughly $27 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 99507 compare to other ZIPs in Alaska?

ZIP 99507 is one of the pricier among Alaska ZIP codes for rent, ranking #5 of 14 at $1,900/mo. Over the year to September 2026, rent in ZIP 99507 changed +2.8%, against a typical +5.1% across the 13 Alaska ZIP codes Zillow tracks.