Location: Kenai Peninsula Borough, AK | Metro: Kenai Peninsula Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 99682 in Kenai Peninsula Borough, AK reveals several key insights that are crucial for landlords and small-portfolio investors considering investment in this area.
First, let's address whether the rent math works. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,310. However, the current market rent, according to the Census ACS, stands significantly lower at $661. This disparity suggests that landlords might find it challenging to charge rents that align with the FMR without potentially deterring tenants who are accustomed to paying less. Therefore, the rent math does not work favorably for those aiming to achieve the FMR.
Second, regarding the affordability of acquisitions, the data shows that the median home value is N/A, indicating a lack of recent sales data which can make it difficult to assess the typical cost of properties. Additionally, the average number of days on the market (DOM) and the percentage of homes that required a price reduction before selling are also listed as N/A. This absence of specific data points makes it hard to gauge the ease or difficulty of acquiring properties in this area.
Finally, there is a notable tenant demand in ZIP 99682. With a total population of 295, the renter share is 43.2%, meaning that approximately 127 residents are likely seeking rental housing. This demand indicates that there is a market for rental properties, though the size is limited given the small population base.
Verdict: While there is a clear tenant demand in ZIP 99682, the significant gap between the FMR and the actual market rent suggests that achieving high rental income will be challenging. The lack of detailed acquisition metrics complicates the assessment of property purchase costs and timelines, but the existing demand for rentals provides a foundation for potential investment. Landlords must be prepared to offer competitive rental rates below the FMR to attract tenants, and the small population size limits the scale of any investment strategy.
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.