ZIP Code · AK

ZIP 99654

Part of Wasilla, AK

Pop. 44,647·Matanuska Susitna Borough·9th most expensive ZIP in Alaska

Median rent (all units)

$1,806/mo

Year-over-Year

+2.7%

Month-over-Month

+0.6%

vs US Median

-$126

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 99654 · $1,806

More affordable than 51% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,000

1 BR

$1,030

2 BR

$1,350

3 BR

$1,880

4 BR+

$2,260

Research median

$1,350/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

Compared with the peak

Rent in ZIP 99654 is at its highest level since Zillow's records here began in April 2023.

Past year vs. the rest of Alaska

Rent in ZIP 99654 changed +2.7% over the year to September 2026. Across the 13 Alaska ZIP codes Zillow tracks, the typical change was +5.1%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($97,544) is $2,439 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,260).

From Zillow's monthly rent index (ZORI) for ZIP 99654. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,672/yr

At $1,806/mo median

Location

CityWasilla

StateAK

CountyMatanuska Susitna Borough

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.7% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 99654 (Wasilla, AK) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 23.6% of residents hold a bachelor's degree or higher.

Population

44,647

Median income

$97,544

Median age

35.3

Renters

28.9%

Age distribution

26.1%

23.2%

26.3%

12.9%

Under 1826.1%

18–3423.2%

35–5426.3%

55–6411.4%

65+12.9%

Gender

52%

48%

Male52%

Female48%

Race & ethnicity

74.2%

17.2%

White74.2%

Black1.1%

Hispanic5.9%

Asian1.6%

Other17.2%

Education (25+)

33.1%

37.8%

23.6%

No HS diploma5.5%

HS diploma33.1%

Some college37.8%

Bachelor's+23.6%

Housing tenure

71.1%

28.9%

Owner71.1%

Renter28.9%

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

2023 vs 2026

How ZIP 99654 in Wasilla, AK has changed in 5 years

Rent

$1,544 → $1,806

up 17.0%

Income

$80,614 → $97,544

up 21.0%

Population

43,671 → 44,647

up 2.2%

Renter share

27.4% → 28.9%

+1.5 pts

Bachelor's+

23.2% → 23.6%

+0.4 pts

Since 2023, the typical rent in ZIP 99654 in Wasilla, AK has increased from $1,544 to $1,806, a 17.0% change over five years. Median household income rose from $80,614 to $97,544 between 2021 and 2024, a 21.0% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 2.2% since 2021, moving from about 43,671 residents to roughly 44,647. Renters now make up 28.9% of households, compared with 27.4% five years ago. Taken together, the five-year picture in ZIP 99654 in Wasilla, 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 99654

Last updated: October 17, 2026

ZIP code 99654 covers Wasilla, AK. The median rent here is $1,806/mo as of October 2026. A 1-bedroom rents for a median of $1,030/mo. A 2-bedroom rents for a median of $1,350/mo.

At 22% of local median household income ($97,544/yr), ZIP 99654 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 99654?

To keep rent at or below 30% of gross income, you would need to earn at least $72,000/year (about $35/hour full-time) to afford the median rent of $1,806/mo in ZIP 99654. The local median household income is $97,544/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 99654?

Rent in ZIP 99654 has risen 2.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in April 2023.

How does ZIP 99654 compare to other ZIPs in Alaska?

ZIP 99654 is in the middle among Alaska ZIP codes for rent, ranking #9 of 14 at $1,806/mo. Over the year to September 2026, rent in ZIP 99654 changed +2.7%, against a typical +5.1% across the 13 Alaska ZIP codes Zillow tracks.