Location: Northwest Arctic Borough, AK | Metro: Northwest Arctic Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,710 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
U.S. Census Bureau data (2024)
The housing market of ZIP 99749, located in Kiana, Alaska, is significantly cheaper than the US overall. The median value of a house in Kiana is $141,800, which is much less than the overall US median value of $338,100. In the context of a Section 8 portfolio strategy, ZIP 99749 can be considered a diversifier.
This area fits as a diversifier because it has a notable 25.0% renter share, indicating a significant portion of the local population relies on rental properties. Additionally, the median income in Kiana is $67,386, which is relatively low compared to the national average, suggesting that many residents may qualify for Section 8 housing assistance.
The median monthly rent for a 4-bedroom home or apartment in Kiana is $2,330, which is higher than the Fair Market Rent (FMR) of $2,010 for the metro area in fiscal year 2026. This means that landlords in Kiana can potentially receive higher rental payments through the Section 8 program, helping to offset the lower appreciation rates and providing a steady cash flow.
ZIP 99749 is not an ideal cash-flow anchor due to the lack of market and median home value data, nor is it an appreciation play, given its lower appreciation rate over the past ten years at 43.5% compared to the US average of 101.1%. However, the combination of a high renter share and the potential for rental payments above the FMR makes it a valuable addition to a diversified Section 8 portfolio.
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.