Location: Sitka City and Borough, AK | Metro: Sitka City and Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
U.S. Census Bureau data (2024)
The ZIP code 99835 stands out with its unique data profile. It has a resident population of 8,368, with 38.3% of them renting their homes. The median income here is $101,727, and the median home value is significantly higher at $484,597. This combination suggests a relatively affluent area with a notable rental sector.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,570. However, the current market rent, according to the Census ACS, is lower at $1,341. This gap indicates that landlords in ZIP 99835 could potentially benefit from the higher FMR rate, especially if they offer properties above the average market rent. The difference between the FMR and the actual market rent can be seen as an opportunity for landlords to attract tenants who qualify for assistance without necessarily undercutting their property values.
Based on the available data, ZIP 99835 appears to be a stable market. The high median home value alongside a substantial rental population points towards a balanced housing ecosystem where both homeownership and renting are viable options. The income levels suggest a community capable of supporting various housing costs, including those subsidized by Section 8 vouchers. Landlords and small-portfolio investors should consider these factors when deciding whether to participate in the Section 8 program, as the potential for steady, government-backed rental income exists without the risk of rapid market fluctuations.
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.