Section 8 Fair Market Rent (FMR) for ZIP 99119 - 2027

Location: Pend Oreille County, WA | Metro: Pend Oreille County, WA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$1,010
2 Bedrooms	$1,310
3 Bedrooms	$1,720
4 Bedrooms	$2,190
5 Bedrooms	$2,540
6 Bedrooms	$2,845
7 Bedrooms	$3,073
8 Bedrooms	$3,227

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,549

Median Household Income

$95,385

Housing Units

1,278

Renter Percentage

11.1%

Occupancy Rate

52.9%

Renter Occupied

ZIP code 99119, located in Fairbanks, Alaska, is a region characterized by its cold climate and significant presence of military installations, which influence both the local economy and housing market.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,160.
The average market rent for properties in ZIP 99119, according to the latest Census American Community Survey (ACS) data, stands at $725 per month.
The median home value in the area is $275,845, reflecting a moderate cost of living compared to other parts of Alaska.
Renters make up 11.1% of the total population, indicating that the majority of residents own their homes, but there remains a notable segment of the market for rental properties.
The median household income in ZIP 99119 is $95,385, suggesting a relatively stable economic base for potential tenants.

Investors looking to enter the ZIP 99119 market should consider the discrepancy between the FMR and the actual market rent, which indicates a potential for higher rental yields if they can position their properties correctly. The median home value suggests a middle-tier market, suitable for a variety of investment strategies. With a renter share of 11.1%, the demand for rental properties is present but not overwhelming, and the median income supports a steady stream of reliable tenants. However, the lack of data on days on market (DOM) might indicate a less competitive rental environment, or it could be due to limited data availability. Overall, ZIP 99119 presents a balanced opportunity for those willing to navigate the unique challenges of the Alaskan real estate market.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.