Section 8 Fair Market Rent (FMR) for ZIP 99751 - 2027
Location: Northwest Arctic Borough, AK | Metro: Northwest Arctic Borough, AK
FY 2027 Fair Market Rent Rates
| 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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$37,917
The skepticism around investing in ZIP code 99751, specifically concerning the Fair Market Rent (FMR) of $1,700 for the fiscal year 2026, is understandable. However, let's address the key concerns:
- Will FMR $1,700 cover the mortgage on a home in ZIP 99751?: According to recent data, the median home value in ZIP 99751 is $100,000. Assuming a typical mortgage rate of 4.5%, the monthly payment on a $100,000 home, excluding property taxes and insurance, would be approximately $500. This means that the FMR of $1,700 would indeed comfortably cover the mortgage payment.
- Is there enough renter demand at 48.6%?: The 48.6% occupancy rate might seem low, but it's important to note that ZIP 99751 has a small population. The data indicates that the rental market is relatively stable, with 2-bedroom rentals typically priced between $500-$749 and 1-bedroom rentals between $750-$999. While the occupancy rate is not high, the cost of renting is lower than the FMR, suggesting a potential for growth in rental demand if prices remain competitive.
- Will vouchers keep pace with market rents?: Unfortunately, the data does not provide specific information on the voucher situation for ZIP 99751. However, given the lower-than-average rental prices compared to the FMR, it's reasonable to assume that vouchers could potentially cover a significant portion of the rent. Landlords should monitor local housing authority announcements and trends to ensure they stay informed about any changes in voucher amounts.
Note that while the data provides insights into the median home value and rental prices, it does not specify the exact number of rental units or the precise percentage of renters who rely on vouchers. For a more comprehensive analysis, further research into these areas is recommended.
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.