Location: North Slope Borough, AK | Metro: North Slope Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
U.S. Census Bureau data (2024)
The ZIP code 99721 is situated in a rural area of Alaska, primarily encompassing the community of North Pole. This neighborhood is characterized by a small population of 329 residents, with a significant portion, 59.3%, being renters. The median household income stands at $95,500, indicating a relatively affluent demographic. However, the median home value is not available, which suggests a lack of comprehensive data on the housing stock in this area.
Moving into the economic landscape of renting in 99721, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,630. In contrast, the actual market rent, as per the Census ACS, is significantly lower at $1,129. This disparity between the FMR and the market rent highlights an opportunity for landlords and small-portfolio investors who can capitalize on the difference by offering properties to tenants eligible for Section 8 vouchers.
The practical implications for investors considering involvement in this ZIP code depend on their investment strategy. For those looking for a hands-off approach, the potential for stable cash flow exists, given the high percentage of renters and the likelihood of consistent demand for affordable housing options. The difference between the FMR and the market rent also means that landlords could potentially receive higher rents through the Section 8 program compared to the local market rates.
On the other hand, for investors interested in a more hands-on value-add strategy, there might be limited opportunities due to the small population size and the lack of detailed data on property values. However, the opportunity to increase rental income above the current market rate through Section 8 participation could still make this a viable investment option, especially if the focus is on providing quality housing that meets the needs of voucher holders.
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.