Section 8 Fair Market Rent (FMR) for ZIP 99840 - 2027

Location: Skagway Municipality, AK | Metro: Skagway Municipality, AK

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,280
1 Bedroom	$1,430
2 Bedrooms	$1,610
3 Bedrooms	$2,230
4 Bedrooms	$2,650
5 Bedrooms	$3,074
6 Bedrooms	$3,443
7 Bedrooms	$3,718
8 Bedrooms	$3,904

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,244

Median Household Income

$81,136

Housing Units

666

Renter Percentage

29.1%

Occupancy Rate

67.6%

Renter Occupied

131

ZIP code 99840, located in Fairbanks, Alaska, is a region characterized by its cold climate and strong reliance on federal and military employment. This area offers unique opportunities for real estate investors interested in the Section 8 housing market, given the presence of both substantial rental demand and government support.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,640, providing a benchmark for rental rates that can be expected in the area.
The average market rent based on the latest Census American Community Survey (ACS) data is $1,280, indicating a potential gap between the FMR and what the market currently supports.
Median home values are not available for this specific ZIP code, suggesting that the market is predominantly rental-focused rather than owner-occupied.
Renters make up 29.1% of the population, highlighting a significant portion of the community that relies on rental properties for housing.
The median income for residents in this ZIP code is $81,136, which is higher than the national average and suggests that tenants could potentially afford rents above the current market rate.
Days on Market (DOM) data is not applicable here, but it's important to note that the high median income and reliance on rental housing indicate a stable tenant pool.

The analysis of these data points reveals that ZIP 99840 presents a balanced investment opportunity for those involved in the Section 8 housing market. With a higher median income and a notable percentage of renters, the area is likely to sustain a steady demand for affordable housing. However, the discrepancy between the FMR and the current market rent suggests that there may be room for adjustment in rental pricing, particularly for properties participating in the Section 8 program. Landlords and small-portfolio investors should consider these factors when evaluating potential returns and occupancy rates in this ZIP code.

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.