Location: Kenai Peninsula Borough, AK | Metro: Kenai Peninsula Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99663 in fiscal year 2026 is set at $1,130. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning that the government will pay up to $1,130 per month toward rent for eligible tenants. However, this does not mean your property's rent should be set at this amount; it simply indicates the maximum subsidy available.
To put this into perspective, the average rent in ZIP 99663 is around $800 according to recent Census American Community Survey (ACS) data. This suggests that the FMR is higher than typical market rates, which can be advantageous for landlords participating in the Section 8 program. With a 10.7% share of renters in the area, there is a solid demand for affordable housing options, making Section 8 properties viable investments.
If you're looking to acquire a new rental property in ZIP 99663, you might consider that the median home value is approximately $258,811. This figure provides a baseline for understanding the cost of entry into the local real estate market. Given the FMR and the average rent, there is potential to cover operating costs and generate a modest profit while providing a necessary service to the community.
Before proceeding with a Section 8 rental, it is crucial to verify that your property meets the Housing Quality Standards (HQS) required by the program. This ensures compliance and avoids delays or denials in the voucher process. The HQS inspection covers safety, health, and structural soundness, so addressing any issues beforehand can streamline the process.
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.