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)
23.9% of residents in ZIP 99694 are renters, indicating a significant portion of the population relies on rental housing. The Fair Market Rent (FMR) for the area, set at $1050 for zip FY 2024, serves as a benchmark for landlords and investors looking to understand the rental market dynamics. This figure is slightly above the Census-reported average market rent of $1,114, suggesting that properties priced around the FMR could attract a steady stream of tenants.
$74,531 is the median income for the area, which provides context for the affordability of housing. Given this income level, the $1050 FMR represents a reasonable expense for many households. However, the slight premium of the market rent at $1,114 indicates potential for landlords to charge slightly above the FMR without significantly impacting occupancy rates.
The lack of available data on median home values and days on market (DOM) suggests that the focus of the real estate market in ZIP 99694 is primarily on rentals rather than sales. Similarly, the absence of data on the percentage of price-cut shares implies that rental prices are relatively stable, with few landlords needing to reduce their rents to attract tenants.
In ZIP 99694, the $1050 FMR offers a clear guideline for landlords participating in the Section 8 program. It ensures that rents are affordable for low-income families while providing landlords with a predictable income source. Given the 23.9% renter share and the slight premium in market rents, landlords can expect steady demand for Section 8 units, making it a viable option for small-portfolio investors.
Section 8 verdict: Suitable for small-portfolio investors seeking stable returns in a rental-heavy market.
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.