Location: Northwest Arctic Borough, AK | Metro: Northwest Arctic Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
The market in ZIP code 99736 presents a dynamic scenario that is worth exploring for landlords and small-portfolio investors. With a Fair Market Rent (FMR) set at $1,930 for the fiscal year 2026, this figure reflects the rental value benchmark established by HUD, indicating the amount deemed sufficient to cover basic rental costs in the area. However, the current market rent, as per Census ACS data, stands at a notably lower $675. This discrepancy suggests a market where supply significantly outpaces demand, as landlords and property owners may be willing to accept lower rents to secure tenants.
The 19.0% renter share in this ZIP code is a critical statistic that reveals insights into the local housing dynamics. A relatively low percentage of renters implies that homeownership is prevalent, which can reduce immediate competition for rental properties. However, it also points towards potential long-term housing pressures. As the population grows or changes, the need for rental accommodations might rise, especially if new residents prefer renting over buying due to economic conditions or personal preferences. This could shift the balance between supply and demand in favor of demand, eventually driving up rental prices closer to the FMR levels.
While specific data on price-cut shares, days on market (DOM), and median home values are not available, the existing information paints a picture of a market in transition. The gap between the FMR and the current market rent indicates a market where landlords have room to adjust their pricing strategies as the dynamics evolve. It's a market where understanding the local economy, population trends, and the reasons behind high homeownership rates can provide a competitive edge in identifying opportunities for rental investments.
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.