Location: Ketchikan Gateway Borough, AK | Metro: Ketchikan Gateway Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,890 |
| 5 Bedrooms | $3,352 |
| 6 Bedrooms | $3,754 |
| 7 Bedrooms | $4,054 |
| 8 Bedrooms | $4,257 |
1,630 is the Fair Market Rent (FMR) for ZIP 99928 in Ward Cove, AK, for metro FY 2026. This figure is critical for landlords and small-portfolio investors considering the Section 8 program.
$468,000 is the asking price for a 4-bedroom, 3-bathroom house listed on Zillow, indicating a significant gap between market listings and the FMR. The disparity highlights the need for investors to understand local housing dynamics.
$775,000 is another high-end listing price for a similar property, suggesting that luxury properties command a premium in this area. However, the substantial difference from the FMR underscores the importance of focusing on affordable housing options for Section 8 tenants.
$474,000 is the price of a 3-bedroom, 3-bathroom house with 3,000 square feet, which also reflects the higher end of the market. These figures indicate that the average market price is above the FMR, making it challenging for low-income families to afford housing without assistance.
$129,000 is the price for a 0.28-acre lot, showing that land can be a more affordable investment compared to existing properties. This could be an opportunity for developers or investors looking to build Section 8 eligible units.
$500,000 is the price for a 9.99-acre lot, further emphasizing the cost of land in this region. Investors might consider this avenue if they aim to develop larger properties or multiple units.
A $2,250,000 listing for a 4-bedroom, 4-bathroom house indicates the presence of high-value properties in the broader Ketchikan area. While these properties are beyond the reach of most Section 8 tenants, they provide context for the overall real estate market.
$635,000 is the price of a unique 1-bedroom, 1-bathroom house with over 210,000 square feet, highlighting the diversity of available properties. Such properties are likely not suitable for Section 8 tenants but illustrate the range of offerings in the area.
The Section 8 program remains a viable option for landlords and investors in ZIP 99928, given the high market prices and the program's ability to subsidize rents at or below the FMR of $1,630.
Data Sources: FMR data from HUD (2027).
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.