Location: Nome Census Area, AK | Metro: Nome Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 99784 reveals critical insights into its viability for rental investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, set at $1,330 for fiscal year 2026, significantly exceeds the current market rent of $825 as reported by the Census ACS. This discrepancy suggests that landlords might face challenges in justifying higher rents to tenants based on current market conditions.
Regarding the affordability of property acquisition, the data shows that the median home value is not available (N/A), which makes it difficult to assess the typical cost of acquiring a rental property in the area. Similarly, the average number of days on the market (DOM) and the percentage of properties that have been price-cut are also not available, indicating a lack of recent transactional data to gauge market activity and pricing trends.
The third question concerns tenant demand. With a total population of 222, 21.2% of residents are renters. Given the small size of the population, the pool of potential tenants is limited, which could pose risks to maintaining occupancy rates.
Verdict: ZIP code 99784 presents a challenging environment for rental investments due to the significant gap between the FMR and the current market rent, suggesting difficulty in pricing rentals competitively. Additionally, the unavailability of key real estate metrics such as median home values, DOM, and price-cut percentages hinders the ability to make informed decisions about property acquisition. Lastly, the limited population size reduces the potential tenant base, further complicating efforts to ensure consistent demand for rental units. These factors collectively indicate that the area may not be a favorable location for new rental investments.
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.