Affordable Housing In Cordova
Valdez Cordova Census Area, Alaska

2 Low Income Apartment Communities In Cordova

Cordova Mews Apartments

409 6th st
Cordova, Alaska

Sunset View

401 2nd St
Cordova, Alaska
Subsidized
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Section 8 Vouchers, Apartments, and Waiting Lists in Cordova, Alaska

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Cordova, Alaska

Housing Authority Programs
Alaska Housing Finance Corporation - Public Housing Public Housing; Moving to Work

Guide To Affordable Housing in Cordova, Alaska

There are 2 low income housing apartment communities offering 44 affordable apartments for rent in Cordova, Alaska.

Income Based Apartments in Cordova, Alaska

Cordova features 22 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 Cordova, Alaska

There are 22 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cordova.

Housing Choice Vouchers in Cordova, Alaska

On average, Section 8 Housing Choice vouchers pay Cordova landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cordova.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cordova, Alaska for a two-bedroom apartment is between $1,035 and $1,265.

2022 Cordova, 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
Cordova, Alaska Fair Market Rent $764 $987 $1,150 $1,422 $1,968
Cordova, Alaska Payment Standard Range $688 to $840 $888 to $1,086 $1,035 to $1,265 $1,280 to $1,564 $1,771 to $2,165

Sourced from federal housing data and AffordableHousingOnline.com research.

Cordova, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 44
Total Housing Units with Rental Assistance 22
Percentage of Housing Units Occupied By Renters 25.93%
Average Renter Household Size 2.48
Average Household Size 2.97
Median Household Income $85,833 ±$22,571
Median Rent $863 ±$168
Percentage Of Renters Overburdened 8.04% ± 11.65pp
Total Population 2,621

Population and Household Demographics

Cordova is a city in Valdez Cordova Census Area, Alaska with a population of 2,621. There are 864 households in the city with an average household size of 2.97 persons. 25.93% of households in Cordova are renters.

Income and Rent Overburden in Cordova

The median gross income for households in Cordova is $85,833 a year, or $7,153 a month. The median rent for the city is $863 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cordova, a household making less than $2,877 a month would be considered overburdened when renting an apartment at or above the median rent. 8.04% of households who rent are overburdened in Cordova.

Area Median Income In Cordova

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Cordova, the AMI is calculated from all households within Valdez Cordova Census Area.

In Cordova, HUD calculates the Area Median Income for a family of four as $103,500

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 Cordova

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 Cordova

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 Cordova AMI may qualify for rental assistance programs that target Extremely Low Income households.
$22,550 $25,750 $28,950 $33,130 $38,810 $44,490 $50,170 $55,850
50% AMI Income Limits
Renters earning up to 50% of the Cordova AMI may qualify for rental assistance programs that target Very Low Income households.
$37,550 $42,900 $48,250 $53,600 $57,900 $62,200 $66,500 $70,800
80% AMI Income Limits
Renters earning up to 80% of the Cordova AMI may qualify for rental assistance programs that target Low Income households.
$55,950 $63,950 $71,950 $79,900 $86,300 $92,700 $99,100 $105,500