Location: Prince of Wales-Hyder Census Area, AK | Metro: Prince of Wales-Hyder Census Area, 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 renter's perspective in ZIP code 99836 reveals a challenging landscape when it comes to housing affordability. The median income of $57,813 stands as a critical benchmark against which rental costs must be measured. However, the absence of specific market rate data (N/A) makes it difficult to provide a precise comparison between local rents and the median income.
What we do know is that the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,570. This figure represents the voucher payment standard that households can receive to help cover their rent. Given the median income, a household might find it easier to manage expenses with a rent-assisted unit rather than paying out-of-pocket at market rates, assuming those rates exceed the voucher amount.
In ZIP 99836, only 16.7% of the population are renters, and the total population is 50. This low percentage of renters and small population size suggest a limited pool of potential tenants, which could intensify competition among landlords. The affordability gap, therefore, becomes a significant factor in attracting and retaining tenants. Landlords who offer units that fall within or close to the FMR of $1,570 are likely to appeal to a broader range of renters, especially those who rely on vouchers.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear: the demand for affordable housing is high, and the competition for tenants is fierce given the small number of renters in the area. Accepting vouchers can be a strategic move to fill vacancies and ensure steady rental income, even if the rates are fixed at $1,570. Cash-paying tenants may offer higher rents but come with the risk of being priced out of the market. Therefore, landlords should weigh the benefits of guaranteed occupancy and stable income from voucher holders against the potential for higher rents from cash-paying tenants.
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.