Location: Matanuska-Susitna Borough, AK | Metro: Matanuska-Susitna Borough, AK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
1290 is the Fair Market Rent (FMR) for ZIP code 99688 as of fiscal year 2024, which means any rental property priced at this amount or below qualifies for Section 8 subsidies. 1375 is the average market rent reported by the Census Bureau's American Community Survey, indicating that properties currently renting above this amount may struggle to attract tenants through the Section 8 program. 250870 is the median home value in this ZIP code, reflecting a stable housing market where investment properties can hold significant equity. 5.9 is the percentage of the population that consists of renters, showing a relatively low demand for rentals compared to homeownership. 77197 is the median income level, suggesting that many residents might qualify for assistance programs like Section 8 due to lower income levels. However, N/A is the typical number of days on the market for rental listings, which could indicate a swift turnover rate or a lack of comprehensive data. 0.1 is the percentage of listings that have been price-cut, hinting at a competitive but not oversaturated rental market.
Investors should note that while the FMR is set at 1290, the actual market rents are slightly higher at 1375, which may necessitate some negotiation with local housing authorities to secure Section 8 contracts. The low 5.9 renter share suggests that there might be less competition among landlords for Section 8 tenants, potentially making it easier to fill vacancies. With a median income of 77197, the area likely has a substantial portion of the population eligible for rental assistance, creating a steady pool of potential tenants. The absence of specific data on days on the market (N/A) and the minimal 0.1 price-cut share indicate a well-balanced market where landlords can maintain competitive pricing without frequent reductions.
Based on these figures, the Section 8 program in ZIP code 99688 offers a viable opportunity for landlords and small-portfolio investors, particularly for those willing to manage their properties at or below the FMR. The relatively low competition for rental units and a stable housing market make this an attractive option for long-term investment.
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.