Location: Nome Census Area, AK | Metro: Nome Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
31.6% of residents in ZIP code 99659 are renters, indicating a significant portion of the population relies on rental housing. This statistic underscores the potential demand for rental properties in the area. However, the lack of available market rent data (N/A) makes it challenging to compare the actual rents charged against the federal standards. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,530, which represents the maximum allowable rent for Section 8 voucher holders. Given the absence of median home value data (N/A), it's difficult to assess the overall property values in the area. Yet, the median income of $53,750 provides insight into the financial capabilities of the local population. Landlords should be aware that without a defined Day on Market (DOM) figure (N/A), the time it takes to lease a property remains uncertain. Additionally, the percentage of listings that have had their prices cut (N/A%) is also unknown, suggesting a stable pricing environment where landlords might not face significant pressure to reduce rents. These factors collectively paint a picture of a rental market that is moderately robust but lacks detailed data points for precise analysis. For landlords and small-portfolio investors, the key takeaway is the reliance on federal guidelines such as the $1,530 FMR to set competitive and legal rental rates.
The verdict for Section 8 participation in ZIP 99659 is positive, given the high renter share and the clear federal guidelines on allowable rents.
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.