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There are 20 low-income apartments in Southeast Fairbanks Census Area that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Southeast Fairbanks Census Area where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Southeast Fairbanks Census Area, Alaska Affordable Housing Data
Income Based Apartments in Southeast Fairbanks Census Area, Alaska
Southeast Fairbanks Census Area features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Southeast Fairbanks Census Area, Alaska
There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Southeast Fairbanks Census Area.
Housing Choice Vouchers in Southeast Fairbanks Census Area, Alaska
On average, Section 8 Housing Choice vouchers pay Southeast Fairbanks Census Area landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Southeast Fairbanks Census Area.
The maximum amount a voucher would pay on behalf of a low-income tenant in Southeast Fairbanks Census Area, Alaska for a two-bedroom apartment is between $1,178 and $1,440.
2024 Southeast Fairbanks Census Area, Alaska Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Southeast Fairbanks Census Area, Alaska Fair Market Rent | $922 | $1,083 | $1,309 | $1,708 | $2,168 |
| Southeast Fairbanks Census Area, Alaska Payment Standard Range | $830 to $1,014 | $975 to $1,191 | $1,178 to $1,440 | $1,537 to $1,879 | $1,951 to $2,385 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Southeast Fairbanks Census Area, AK Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 20 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 29.85% |
| Average Renter Household Size | 3.27 |
| Average Household Size | 3.11 |
| Median Household Income | $62,670 ±$8,682 |
| Median Rent | $1,176 ±$102 |
| Percentage Of Renters Overburdened | 29.59% ± 6.81pp |
| Total Population | 7,029 |
Population and Household Demographics
Southeast Fairbanks Census Area is a county in Alaska with a population of 7,029. There are 2,117 households in the county with an average household size of 3.11 persons. 29.85% of households in Southeast Fairbanks Census Area are renters.
Income and Rent Overburden in Southeast Fairbanks Census Area
The median gross income for households in Southeast Fairbanks Census Area is $62,670 a year, or $5,223 a month. The median rent for the county is $1,176 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Southeast Fairbanks Census Area, a household making less than $3,920 a month would be considered overburdened when renting an apartment at or above the median rent. 29.59% of households who rent are overburdened in Southeast Fairbanks Census Area.
Area Median Income In Southeast Fairbanks Census Area
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
In Southeast Fairbanks Census Area, HUD calculates the Area Median Income for a family of four as $91,900
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Southeast Fairbanks Census Area
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Southeast Fairbanks Census Area
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Southeast Fairbanks Census Area AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$19,750 | $24,640 | $31,070 | $37,500 | $43,930 | $50,360 | $56,790 | $62,050 |
| 50% AMI Income Limits Renters earning up to 50% of the Southeast Fairbanks Census Area AMI may qualify for rental assistance programs that target Very Low Income households. |
$32,900 | $37,600 | $42,300 | $47,000 | $50,800 | $54,550 | $58,300 | $62,050 |
| 80% AMI Income Limits Renters earning up to 80% of the Southeast Fairbanks Census Area AMI may qualify for rental assistance programs that target Low Income households. |
$52,650 | $60,200 | $67,700 | $75,200 | $81,250 | $87,250 | $93,250 | $99,300 |
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