Location: Wrangell City and Borough, AK | Metro: Wrangell City and Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
40.9% of residents in ZIP 99929 are renters, indicating a significant demand for rental properties. With a metro Fair Market Rent (FMR) of $1,220 for FY 2026, landlords can expect to receive this amount as a reimbursement for Section 8 vouchers. The market rent, based on Census ACS data, stands at $993, which is notably lower than the FMR, suggesting an opportunity for landlords to secure higher rents through Section 8 participation. The median home value in the area is $310,126, reflecting a moderate housing market where investment opportunities abound. However, the median income of $64,375 suggests that many residents may rely on assistance programs such as Section 8 to afford housing. Despite the lack of specific data on days on market (DOM) and the percentage of homes that have had their prices cut, the disparity between the market rent and the FMR points to a favorable environment for landlords who choose to accept Section 8 vouchers.
Investors should note that the higher reimbursement rates compared to market rents can provide a steady and reliable source of income. The fact that nearly half of the population are renters also indicates a strong need for affordable housing options. While the median income figure does not directly correlate to the ability to pay market rents without assistance, it does highlight the potential reliance on government subsidies for housing. This creates a scenario where landlords who are willing to work with Section 8 tenants can fill a critical gap in the local housing market while ensuring they receive fair compensation for their properties.
The verdict for Section 8 participation in ZIP 99929 is positive, given the high renter share and the favorable reimbursement rates relative to market conditions.
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.