Section 8 Fair Market Rent (FMR) for ZIP 99747 - 2027
Location: North Slope Borough, AK | Metro: North Slope Borough, AK
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,110 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$93,750
To determine if you should buy in ZIP code 99747 for Section 8 investment, follow these steps:
- Does the Fair Market Rent (FMR) of $1,630 cover the debt service on a property?
- If the FMR does not cover your debt service, the answer is No. Do not proceed with the purchase.
- If the FMR covers your debt service, move to the next question.
- Is the market rent above, at, or below the FMR?
- If market rent is below the FMR, the answer is It Depends. Consider the stability of Section 8 payments and potential vacancy rates.
- If market rent is equal to or above the FMR, continue to the next question.
- Are there enough renters and days on the market (DOM) to meet demand?
- The area has 18.8% of its population renting, which indicates a moderate rental demand. Additionally, the DOM is N/A, suggesting either insufficient data or that properties are selling quickly.
- If the DOM is low and the percentage of renters is sufficient, the answer is Yes. There is likely enough demand to support a Section 8 property.
- If the DOM is high, indicating slow sales, the answer is No. The market may not be conducive to maintaining occupancy.
In conclusion, the viability of purchasing a Section 8 property in ZIP 99747 hinges on the FMR covering your debt service, the market rent being competitive, and the rental demand being robust. Given the FMR of $1,630 and 18.8% of the population renting, the primary gating factor will be the market rent and the DOM to ensure the property can sustain occupancy and profitability.
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.