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)
ZIP code 99579, located within the Lake and Peninsula Borough, AK metro, has a Federal Market Rent (FMR) of $1,030 for fiscal year 2026. This figure is critical for understanding the rental market dynamics in this area, especially for landlords and small-portfolio investors who deal with Section 8 housing vouchers. The FMR is the maximum amount that HUD will pay for rent in a specific area and it serves as a benchmark for the rental market.
The lack of specific market rent and home value data for ZIP 99579 makes direct comparisons to other ZIP codes within the same metro difficult. However, we can infer some insights based on the available data. With a 45.5% renter share, ZIP 99579 exhibits a higher proportion of renters compared to the average. This suggests a robust demand for rental properties, which could be indicative of an area where Section 8 vouchers play a significant role in the housing market.
To determine if ZIP 99579 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the FMR in relation to the broader context of the Lake and Peninsula Borough, AK. Given that the FMR is the only specific monetary figure available, and assuming it is reflective of the actual market rent, we can deduce that ZIP 99579 is likely a mid-tier neighborhood. This classification is based on the assumption that the FMR approximates the market rent and that the higher renter share indicates a balanced market where both voucher holders and non-voucher renters coexist.
A value pocket typically refers to areas where rental costs are lower than the average, making them attractive to voucher holders. Conversely, a premium sub-market would have rental costs significantly above the average, catering to higher-income renters. Since the FMR for ZIP 99579 aligns closely with what might be expected for a mid-tier neighborhood, it suggests a moderate cost environment. The high renter share without corresponding market rent and home value data hints at a potential sweet spot for Section 8, but definitive conclusions require additional data points such as median home values and average market rents across the entire metro area.
In summary, ZIP 99579 appears to be a mid-tier neighborhood within the Lake and Peninsula Borough, AK metro, characterized by its FMR and a notably high renter share. To fully assess its status as a value pocket or premium sub-market, more detailed local market data is necessary.
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.