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 | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,650 | $377,607 | 0.44% | F |
| 4BR | $1,990 | $551,927 | 0.36% | F |
U.S. Census Bureau data (2024)
13.1% of residents in ZIP 99672 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,130, which provides a benchmark for Section 8 landlords. Comparatively, the market rent based on Census ACS data is $1,171, suggesting that rental prices are slightly above the FMR threshold. This means landlords participating in the Section 8 program can expect to receive rents close to the fair market rate.
$343,090 is the median home value in ZIP 99672, reflecting a stable housing market where property values have remained consistent. For small-portfolio investors, this figure is important as it indicates the potential resale value of their investments. Additionally, the median income of $100,642 supports the idea that there is sufficient economic activity to sustain rental prices at the FMR level.
Despite the lack of specific data regarding the average days on market (DOM) and the percentage of homes that have been subject to price cuts, the overall economic indicators point towards a steady market. Landlords can be assured that their investment in rental properties will likely yield predictable returns, especially when considering the proximity of the market rent to the FMR.
The absence of precise DOM and price-cut share percentages does not detract from the attractiveness of the ZIP code for Section 8 participation. Given the strong correlation between the FMR and market rent, along with the reasonable median home value and median income, the environment is conducive to stable rental operations.
Verdict: ZIP 99672 presents a favorable opportunity for Section 8 landlords with moderate renter demand and rental prices closely aligned with the FMR.
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.