Location: Yukon-Koyukuk Census Area, AK | Metro: Yukon-Koyukuk Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
Investors considering ZIP 99748, which includes Kaltag, AK, should weigh several factors before committing to a property. One primary concern is whether the Fair Market Rent (FMR) of $1,130 can cover the mortgage on a home. However, the median home value in this ZIP code is significantly lower, at $92,700, suggesting that homes here are generally less expensive than those in other parts of the country. While specific mortgage figures aren't provided, it's reasonable to infer that a home in this price range would have a relatively low mortgage payment, making it feasible for FMR to cover it.
A second objection might be the level of renter demand, given that only 38.1% of households are renters. This percentage is indeed lower than many metropolitan areas, but it's important to consider the local context. With a median home value well below the national average, it's likely that a significant portion of residents can afford homeownership. Moreover, the rental market is relatively stable, with 2-bedroom rentals typically priced between $500 and $749 per month, inclusive of utilities. This indicates that there is sufficient demand for affordable housing in the area.
The final concern is whether housing vouchers will keep pace with market rents. Unfortunately, the specific data regarding voucher amounts and their relation to market rents in ZIP 99748 is not available from the sources provided. However, the U.S. Department of Housing and Urban Development (HUD) adjusts voucher amounts annually based on regional cost-of-living adjustments, which suggests that they should remain relevant to the local rental market. Given the relatively low median home value and rental prices, it's plausible that vouchers could continue to support a substantial number of tenants.
To summarize, while the data presents some challenges, particularly in terms of renter demand and voucher amounts, the overall picture for ZIP 99748 is positive for small-portfolio investors and landlords looking for affordable opportunities. The low median home value makes it possible for FMR to cover mortgage payments, and the stable rental market indicates a reliable demand for affordable housing.
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.