How much is a home worth in ZIP code 99654?

The typical home in 99654 is worth $428,576, based on the Zillow Home Value Index.

Are home values rising in 99654?

Home values in 99654 are up 7.6% over the past year, and up 5.6% a year over five years.

What is the typical rent in 99654?

A typical home in 99654 rents for about $1,640 a month, a gross rental yield of 4.6%.

What is the property tax rate in 99654?

The effective property tax rate in 99654 is 0.9% — roughly $3,981 a year on a typical home.

ZIP code 99654 has a population of 44,647 and a median household income of $97,544.

HousingHandbookReference data

…

U.S. ZIP Code · AK99654

Matanuska-Susitna Borough · Anchorage, AK

Typical home value

$428,576^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +7.6%
5-year / yr: +5.6%
10-year / yr: +5.0%

Relative price

vs U.S.: +50.9%
vs metro: +3.1%
vs state: +23.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 99654 is worth $428,576 — 3.1% above the Anchorage, AK median. Over the past year, values have risen 7.6%. Homes here rent for a typical $1,640 a month — a 4.6% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,640^[2]
Gross yield: 4.6%^[2]
Cap rate: 2.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $3,981^[3]

#Climate risk

FEMA National Risk Index ratings for Matanuska-Susitna Borough. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Low
Coastal flood: No Rating
Wildfire: Relatively Moderate
Drought: No Rating
Heat wave: Insufficient Data
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively High
Winter weather: Relatively High

#Who lives here

Population: 44,647^[3]
Median household income: $97,544^[3]

#Migration

Household moves in and out of Matanuska-Susitna Borough over a year, from IRS tax-return data.

Net migration: +380^[5]
Moved in: 3,141
Moved out: 2,761

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 19
Elementary: 11
Middle: 1
High: 3

Mat-Su Central School
Other · Grades K–12 · Matanuska-Susitna Borough School District
2,558 students
Wasilla High School
High · Grades 9–12 · Matanuska-Susitna Borough School District
859 students
Mat-Su Career & Tech Ed High School
High · Grades 9–12 · Matanuska-Susitna Borough School District
723 students
Teeland Middle School
Elementary · Grades PK–8 · Matanuska-Susitna Borough School District
657 students
Twindly Bridge Charter School
Other · Grades K–12 · Matanuska-Susitna Borough School District
592 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.6%

Net yield (after ~40% expenses)2.8%

Annual rent$19,679

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,167

Loan principal$342,861

Down payment$85,715

Total interest paid$437,300

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.74

Monthly cost to own$2,856

Monthly rent$1,640

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 89th percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 33rd percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 99654?: The typical home in 99654 is worth $428,576, based on the Zillow Home Value Index.
Are home values rising in 99654?: Home values in 99654 are up 7.6% over the past year, and up 5.6% a year over five years.
What is the typical rent in 99654?: A typical home in 99654 rents for about $1,640 a month, a gross rental yield of 4.6%.
What is the property tax rate in 99654?: The effective property tax rate in 99654 is 0.9% — roughly $3,981 a year on a typical home.
Who lives in 99654?: ZIP code 99654 has a population of 44,647 and a median household income of $97,544.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

99645 vs 99654 →
Knik River CDP, AK
Typical home
$438,164
Gross yield
5.2%
99507 vs 99654 →
Anchorage, AK
Typical home
$415,498
Gross yield
5.6%
99502
Anchorage, AK
Typical home
$444,890
Gross yield
4.6%
99517
Anchorage, AK
Typical home
$399,537
Gross yield
5.0%
99515
Anchorage, AK
Typical home
$471,891
Gross yield
5.5%
99577
Anchorage, AK
Typical home
$483,096
Gross yield
5.3%

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#Jump to section

U.S. ZIP Code · AK99654

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