Section 8 Fair Market Rent (FMR) for ZIP 99647 - 2027

Location: Lake and Peninsula Borough, AK | Metro: Lake and Peninsula Borough, AK

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$104,063

Housing Units

Renter Percentage

N/A

Occupancy Rate

24.5%

Renter Occupied

The ZIP code 99647 is located in the rural outskirts of Alaska, specifically in the Bethel Census Area. This region is characterized by its remote location and sparse population, which significantly impacts the local real estate market dynamics.

Fair Market Rent (FMR): The Fair Market Rent for ZIP 99647 as of the fiscal year 2026 is set at $1,030. This figure represents the average rental price for a modest apartment in the area, reflecting the low demand for rental properties.
Renter Share: Only 0.0% of the residents in ZIP 99647 are renters, indicating that the majority of the population owns their homes rather than renting them. This statistic suggests a strong preference for homeownership over renting.
Median Income: The median household income in ZIP 99647 is $104,063, which is notably higher than the national average. This high income level can be attributed to various factors, including federal subsidies and employment opportunities in the area.
Days on Market (DOM): The Days on Market figure for the area is not available, which could imply that listings are scarce or that the real estate market operates differently due to its rural nature.
Moderate Home Value Data: There is no data available for the median home value in ZIP 99647. This lack of information might suggest that home values are relatively stable or that there isn't enough transactional data to establish a median.

The real estate market in ZIP 99647 presents a unique challenge for investors, particularly those interested in rental properties. With a Fair Market Rent of $1,030 and a negligible renter share, it's evident that the primary market opportunity lies in homeownership rather than rentals. High median incomes indicate that residents have the financial capability to purchase homes outright, reducing the potential tenant pool. The absence of Days on Market data and median home value suggests a less active real estate market, which could mean fewer investment opportunities but also potentially less competition for savvy investors looking to acquire properties. In summary, while the rental market is limited, the robust purchasing power of the local population makes homeownership a viable option for real estate investors in this ZIP code.

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.