Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,030$12,360 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Lake and Peninsula Borough, AK
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Lake and Peninsula Borough, AK
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $739 | $8,868 | $29,560 | $14.21/hr |
| 1-Bedroom Apartment | $894 | $10,728 | $35,760 | $17.19/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,030 | $12,360 | $41,200 | $19.81/hr |
| 3-Bedroom Home | $1,391 | $16,692 | $55,640 | $26.75/hr |
| 4-Bedroom Home | $1,596 | $19,152 | $63,840 | $30.69/hr |
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Frequently Asked Questions About Rent in Lake and Peninsula Borough, AK
What is the Fair Market Rent for a 2-bedroom in Lake and Peninsula Borough, AK?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Lake and Peninsula Borough, AK is $1,030 per month ($12,360 per year).
What hourly wage is needed to afford rent in Lake and Peninsula Borough, AK?
To comfortably afford a 2-bedroom apartment at $1,030/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.81 per hour ($41,200/year).
What are the HUD Fair Market Rents by bedroom count in Lake and Peninsula Borough, AK?
Official 2026 HUD rents in Lake and Peninsula Borough, AK are: Studio: $739/mo, 1-Bedroom: $894/mo, 2-Bedroom: $1,030/mo, 3-Bedroom: $1,391/mo, and 4-Bedroom: $1,596/mo.
How do HUD Fair Market Rents compare to local incomes in Lake and Peninsula Borough, AK?
At the local Census ACS median household income of $65,625/year ($5,469/month), the benchmark 2-bedroom Fair Market Rent represents 18.8% of monthly income.
How is the 30% housing affordability standard calculated in Lake and Peninsula Borough, AK?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,030/month, the required minimum annual gross income is calculated as ($1,030 × 12) ÷ 0.30 = $41,200 per year.