Location: Kodiak Island Borough, AK | Metro: Kodiak Island Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,580 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,270 |
| 3 Bedrooms | $2,750 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
U.S. Census Bureau data (2024)
The ZIP code 99608 is located in a unique setting, primarily known for its low percentage of renters at just 0.0%, indicating that it is predominantly a homeowner's area. With a population of 33, this region stands out due to its extremely small size, which likely contributes to its tight-knit community feel. However, the lack of available data on median income and median home value suggests that comprehensive economic analysis might be challenging.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $2,090. This figure represents the government's benchmark for determining the maximum amount a Section 8 tenant can pay towards their rent. Despite this information, the absence of market rent data for ZIP 99608 makes it difficult to assess how competitive this rate is within the local rental market.
Given the characteristics of ZIP 99608, it appears better suited for a hands-off Section 8 voucher operator rather than a hands-on value-add buyer. The minimal presence of renters and the small population size suggest limited opportunities for active property management or renovations aimed at increasing rental yields. For an investor looking to manage properties remotely without the need for extensive local involvement, this ZIP code could offer a stable, if niche, investment opportunity. However, the decision should be made with caution, considering the sparse data available for thorough financial planning and risk assessment.
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.