Location: Kenai Peninsula Borough, AK | Metro: Kenai Peninsula Borough, AK
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,830 | $342,947 | 0.53% | F |
| 4BR | $2,210 | $446,080 | 0.5% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 99611 hinges on its unique blend of yield and stability factors. With a Fair Market Rent (FMR) of $1,250 for the fiscal year 2026, the metro area presents a higher rental yield compared to the market average of $1,141. This indicates that properties in this ZIP code can command slightly above-average rents, making it attractive for landlords seeking to maximize their rental income.
However, the median home value of $316,938 suggests a relatively stable housing market. Home values in this range typically indicate a middle-class neighborhood where property appreciation is steady rather than explosive. For small-portfolio investors considering flips, this figure points towards a less volatile market, which might not offer the quick returns seen in high-yield/low-stability areas.
Stability in ZIP 99611 is further supported by the 24.3% rate of renters. While this percentage is not exceptionally high, it does suggest a moderate level of tenant turnover, which can be beneficial for maintaining cash flow but also requires continuous effort in attracting and retaining tenants. The lack of data on days on market (DOM) means we cannot assess how quickly properties are sold when listed, but the average household income of $79,757 provides insight into the economic health of the area. This income level is robust enough to support both rental and homeownership markets, indicating financial stability among residents.
In summary, ZIP 99611 is best classified as a steady-cashflow zone. The slightly elevated FMR of $1,250 relative to the market average of $1,141, combined with a moderate renter population of 24.3%, suggests that while yields are good, they do not surpass those found in high-yield/low-stability markets. The median home value of $316,938 and the strong average household income of $79,757 further reinforce the notion of a stable market where long-term investments are likely to perform well without the risks associated with highly speculative ventures.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.