Location: Chugach Census Area, AK | Metro: Chugach Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The ZIP code 99693, located within the Chugach Census Area, AK, presents a unique scenario when compared to typical ZIP codes in the same area. The Fair Market Rent (FMR) for ZIP 99693 in fiscal year 2024 is set at $1280. This figure represents the maximum amount that a low-income family receiving federal rental assistance can pay toward their housing costs.
In contrast, the market rent for 99693 stands at $961. This indicates that the actual rent being paid by tenants in the area is significantly lower than the FMR, suggesting that landlords in this ZIP code might have an opportunity to increase rents slightly while still remaining competitive with the market and attractive to families eligible for Section 8 assistance.
The renter share in 99693 is notably high at 59.7%. This means that nearly 60% of the households in this ZIP code are renters, which is a significant portion and could imply a strong demand for rental properties. However, it's important to note that the home value for this ZIP code is listed as N/A, indicating that there may be limited data on home values or that the area primarily consists of rentals rather than owner-occupied homes.
Given the combination of a below-FMR market rent and a high renter share, 99693 appears to be a value pocket within the Chugach Census Area, AK. Landlords here can benefit from the higher renter concentration while maintaining rents at levels that are attractive to Section 8 participants. The discrepancy between the FMR and the market rent also suggests that there is room for negotiation and potentially higher returns for landlords who can justify slight increases in rent without pricing out Section 8 tenants.
This ZIP code's characteristics make it a favorable location for landlords and small-portfolio investors looking to participate in the Section 8 program. The high renter share and relatively low market rent indicate a strong potential for a steady stream of tenants and manageable vacancy rates, as long as the properties meet the necessary standards for Section 8 eligibility.
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.