Location: Fairbanks-College, AK | Metro: Fairbanks-College, AK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
U.S. Census Bureau data (2024)
The ZIP code 99725 is primarily a renter-heavy area, with 23.3% of its population being renters. However, the overall number of renters is limited due to the small size of the population, which stands at 448 individuals. This means that while there is a significant percentage of renters, the actual volume of potential Section 8 tenants is relatively low.
The median household income in this ZIP is $53,364. Unfortunately, specific data on market rents for this area is not available. However, we can compare it to the Fair Market Rent (FMR) set by HUD for the fiscal year 2024, which is $1,650 for this ZIP code. Given the median income, the typical rent would consume a considerable portion of the local income, suggesting that affordability could be a concern for many potential tenants.
A landlord in ZIP 99725 should expect a tenant profile characterized by individuals who rely heavily on housing vouchers to afford their living space. These tenants will likely have lower incomes, making the $1,650 FMR a critical benchmark for setting rent prices that align with the financial capabilities of the majority of the population.
While the percentage of renters is notable, the scarcity of deep voucher demand indicates that landlords might face challenges in attracting a large number of Section 8 tenants. It's essential to consider the broader economic context of the area, including job availability and the cost of living, when assessing the viability of renting to Section 8 tenants.
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.