Location: Nome Census Area, AK | Metro: Nome Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
U.S. Census Bureau data (2024)
The ZIP code 99783 is situated in a rural setting, specifically in the city of Ketchikan, Alaska. This area is characterized by a small community of 238 residents, indicating a tight-knit and possibly insular environment. With 30.9% of the population renting their homes, it suggests a modest demand for rental properties, but the median income of $37,188 provides insight into the economic profile of the inhabitants. The lack of data on median home values implies that housing costs might be variable and less standardized compared to larger metropolitan areas.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,530. This figure represents the maximum amount that a Section 8 tenant can pay towards their rent. However, the absence of specific market rent data for ZIP 99783 makes it challenging to directly compare the FMR with local conditions. Nonetheless, given the limited number of residents and the percentage of renters, it's likely that the local rental market is influenced by the broader regional trends, which would include the FMR as a benchmark.
In terms of suitability for different types of investors, ZIP 99783 appears to favor a hands-off voucher operator rather than a hands-on value-add buyer. The small population and high proportion of renters suggest that there is a steady need for affordable housing, making Section 8 vouchers a reliable source of income. For a landlord or small-portfolio investor looking to manage properties with minimal effort, the predictability of government-subsidized rents could provide a stable cash flow. Conversely, the limited potential for significant rental price increases due to the rural nature and low population density means that value-add strategies, which often rely on increasing rents over time, may not yield substantial 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.