Location: Nome Census Area, AK | Metro: Nome Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99684 in the upcoming fiscal year 2026 is set at $1,530. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that if you participate in this program, the government will pay up to this amount on behalf of eligible tenants. However, it's important to note that this does not equate to your actual rent; rather, it sets an upper limit for reimbursement.
To put this into perspective, the average rent in ZIP 99684, based on recent Census American Community Survey (ACS) data, is $1,194. This indicates that the FMR is higher than the typical market rate, which could be advantageous for landlords looking to cover their costs and potentially make a profit. The difference between the FMR and the local average rent suggests that participating in Section 8 can help offset some of the financial risks associated with renting in this area.
With a 40.4% share of renters in the local population, there is a significant demand for rental properties. This high percentage of renters implies a steady pool of potential tenants who might benefit from the Section 8 program. While the acquisition cost for properties in this area is listed as N/A, indicating incomplete data, the high renter share suggests that finding a suitable property for your portfolio should be feasible.
Before deciding to enter the Section 8 rental market in ZIP 99684, it's crucial to verify that your property meets the necessary requirements for participation. Specifically, ensure that the unit is up to code and passes any inspections required by the housing authority. This step is essential to avoid delays in receiving payments and to maintain compliance with the program's standards.
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.