Location: Lake and Peninsula Borough, AK | Metro: Lake and Peninsula Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 99565 is not a renter-heavy area; only 0.0% of the population are renters, indicating that the majority of residents are homeowners. This makes it a homeowner-dominated area where Section 8 housing vouchers are likely to be less prevalent.
The median household income in this ZIP code is $71,875, which is relatively high. However, there is no specific data provided on the market rent for this area, so we cannot directly calculate what percentage of local income goes towards typical rent. Instead, we can compare the median income to the Fair Market Rent (FMR) set by HUD for the upcoming fiscal year, which is $1,030 for the metro area in FY 2026.
To put this into perspective, if we assume that the FMR is reflective of the typical rent in ZIP 99565, then the average rent would consume approximately 17% of the median household income. This is calculated by taking the annual FMR ($12,360) and dividing it by the median household income ($71,875), which suggests that renting is affordable relative to income levels.
A landlord in ZIP 99565 should expect tenants who are financially stable and capable of paying rents that align with the FMR. Given the high median income and low rental prevalence, these tenants are likely to be individuals or families who benefit significantly from Section 8 vouchers due to their lower income brackets compared to the overall population. Landlords will need to balance the benefits of guaranteed rent payments from the voucher program against the potential administrative complexities of participating in it.
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.