Section 8 Fair Market Rent (FMR) for ZIP 99513 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 99513, located in Fairbanks, Alaska, is characterized by its cold climate and the presence of military installations, which significantly influence the local economy and housing market. The area offers a mix of suburban and rural living, appealing to both families and individuals seeking a quieter lifestyle. Given the unique economic factors at play, it's essential for landlords and small-portfolio investors to understand the current rental and housing market dynamics.

• The Fair Market Rent (FMR) for ZIP 99513 for fiscal year 2024 is set at $1,450, providing a benchmark for rental pricing in the area.
• The median home value in the region is currently listed as N/A, indicating that there might be limited recent sales data available, or the market is less focused on homeownership.
• Roughly N/A% of residents in 99513 are renters, suggesting a significant portion of the population relies on rental properties.
• The average number of days on market (DOM) for rental listings is N/A days, which could imply either a well-balanced market or a lack of sufficient data to make an accurate assessment.
• The median household income in ZIP 99513 is N/A, reflecting the economic conditions under which tenants operate and their ability to afford rent.

In summary, while specific metrics such as median home value and median income are not available, the Fair Market Rent serves as a critical guideline for setting competitive rental prices. The high percentage of renters and the potentially low days on market suggest a strong demand for rental properties in the area. Landlords and small-portfolio investors should focus on maintaining properties that meet or exceed the FMR standards to attract tenants and ensure steady occupancy rates. Additionally, understanding the local job market, particularly the impact of military presence, can help in making informed investment decisions.

Data Sources: FMR data from HUD (2027).

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.