Location: Prince of Wales-Hyder Census Area, AK | Metro: Prince of Wales-Hyder Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
ZIP code 99918, located within the Prince of Wales-Hyder Census Area, AK, stands out when compared to typical ZIP codes in the same area. The Fair Market Rent (FMR) for 99918 is set at $1,150 for fiscal year 2026, which is notably lower than the market rent of $1,479. This indicates that while the market expects higher rents, the government's estimate for affordable housing is set at a lower rate, potentially creating a situation where landlords can offer competitive rates without sacrificing profitability.
The absence of home value data for 99918 suggests that it might be an area primarily focused on rental properties rather than homeownership. With a 14.5% share of renters, this ZIP code has a higher proportion of tenants compared to the overall metro area, making it a significant target for landlords and small-portfolio investors. A higher renter share typically correlates with areas that have a strong presence of subsidized housing programs such as Section 8.
Inferencing from the provided figures, ZIP 99918 appears to be a value pocket within the Prince of Wales-Hyder Census Area, AK. Its lower FMR relative to market rent could mean that it attracts a mix of low-income families and individuals who benefit from Section 8 subsidies. Given the higher renter share and the lower FMR, it is likely that this ZIP code is a sweet spot for Section 8 participation, where the demand for affordable housing is high and the supply of rental units is relatively well-aligned with government-subsidized rates.
To summarize, ZIP 99918 offers a strategic opportunity for landlords due to its high renter share and lower FMR compared to market rates. It is a value pocket within the larger metro area, suitable for those looking to invest in properties that cater to the needs of low-income tenants supported by Section 8 subsidies.
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.