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 99923 has a population of 24, indicating it is a very small community. With 0.0% of the population being renters, this area is predominantly homeowner-dominated rather than renter-heavy. This makes it clear that the demand for rental properties, especially those utilizing Section 8 vouchers, will be scarce.
The median household income for this ZIP code is not available, which complicates an analysis of how much of local income would typically go towards rent. However, given the scarcity of renters, we can infer that the rental market is not robust, and thus, market rents are likely not reflective of a broader, more active rental environment.
When comparing the situation to the Fair Market Rent (FMR) of $1,150, which is set for FY 2026 in the metro area, it's evident that the FMR is a standard benchmark for larger, more representative areas. In ZIP 99923, the lack of renters means that this benchmark is less applicable, but it still serves as a reference point for understanding the potential value of a Section 8 voucher in this context.
A landlord in ZIP 99923 should expect tenants who are likely to be dependent on Section 8 vouchers due to the limited number of renters. These tenants will have their rent subsidized up to the $1,150 FMR level, making it important for landlords to ensure that their properties meet HUD standards for housing quality. The small size of the tenant pool suggests that competition among landlords for these tenants could be fierce, necessitating attention to property maintenance and compliance with program requirements.
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.