Location: North Slope Borough, AK | Metro: North Slope Borough, AK
| 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 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 99782 is centered around the significant disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR stands at $1,630, while the Census ACS reports the market rent at $833. This creates a gap of $797 per month, which translates into a 95.5% difference between what landlords can charge through the Section 8 program and what they could potentially collect from open-market tenants.
Given that the FMR exceeds the market rent, landlords should view ZIP 99782 as a yield play. The opportunity lies in leveraging the higher FMR set by the government to secure a better rental income than the current market allows. This is particularly compelling when considering that only 33.5% of residents are renters, suggesting a smaller pool of potential voucher holders relative to homeowners. Moreover, the median household income of $93,750 indicates that many residents have the financial capability to pay above-market rents, further supporting the attractiveness of this area for landlords participating in the Section 8 program.
The higher FMR also mitigates the risk associated with housing voucher tenants, who might otherwise be seen as less profitable due to the administrative burden and sometimes slower payment cycles. By receiving $1,630 under the Section 8 program, landlords can achieve rental yields that are competitive with or even surpass those found in areas without such subsidies. This makes ZIP 99782 an attractive investment opportunity for both landlords and small-portfolio investors looking to capitalize on government assistance programs while still achieving strong rental returns.
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.