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)
The ZIP code 99919 represents a small, tightly-knit community with a total population of just 570 residents. In this area, 41.5% of the inhabitants are renters, indicating a modest but present demand for rental properties. The median household income stands at $61,250, which suggests a middle-class demographic that is financially stable but not wealthy. Notably, the median home value is not available, pointing to a limited number of owner-occupied homes and potentially a focus on rental properties.
Moving into the economic analysis of renting, the Fair Market Rent (FMR) for the metro area, as of fiscal year 2026, is set at $1,100. This figure is established by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of rent assistance that can be provided under the Section 8 program. However, the actual market rent, according to the Census Bureau's American Community Survey (ACS), is significantly lower at $947 per month. This discrepancy highlights an opportunity for landlords and investors who can leverage the higher FMR to secure more favorable rental incomes through the Section 8 program.
Given these conditions, ZIP 99919 could suit both hands-off voucher operators and hands-on value-add buyers. For those seeking a low-maintenance investment, the Section 8 program ensures a steady stream of rental income without the need for extensive property management, thanks to the government-backed vouchers. On the other hand, value-add investors might find potential in improving properties to command rents closer to the FMR, thereby increasing their returns. However, they must be prepared to navigate the regulatory landscape associated with the Section 8 program, including rent restrictions and property inspections.
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.