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Affordable Housing In Covenant Life
Haines Borough, Alaska

Guide To Affordable Housing in Covenant Life, Alaska

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Covenant Life, Alaska.

Income Based Apartments in Covenant Life, Alaska

Covenant Life 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 Covenant Life, Alaska

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Covenant Life.

Housing Choice Vouchers in Covenant Life, Alaska

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Covenant Life, Alaska for a two-bedroom apartment is between $890 and $1,088.

2021 Covenant Life, 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
Fair Market Rent $694 $756 $989 $1,312 $1,478
Payment Standard Range $625 to $763 $680 to $832 $890 to $1,088 $1,181 to $1,443 $1,330 to $1,626

Sourced from federal housing data and AffordableHousingOnline.com research.

Covenant Life, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 14.58%
Average Renter Household Size 0.00
Average Household Size 2.19
Median Household Income $31,875 ±$10,784
Median Rent $0 ±$0
Percentage Of Renters Overburdened 0% ± 257.14pp
Total Population 105

Population and Household Demographics

Covenant Life is a city in Haines Borough, Alaska with a population of 105. There are 48 households in the city with an average household size of 2.19 persons. 14.58% of households in Covenant Life are renters.

Income and Rent Overburden in Covenant Life

The median gross income for households in Covenant Life is $31,875 a year, or $2,656 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Covenant Life, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Covenant Life.

Area Median Income In Covenant Life

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 Covenant Life, the AMI is calculated from all households within Haines Borough.

In Covenant Life, HUD calculates the Area Median Income for a family of four as $80,000

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 Covenant Life

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 Covenant Life

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,200 $21,550 $27,150 $32,750 $38,350 $43,950 $49,550 $55,150
50% of Median $30,300 $34,600 $38,950 $43,250 $46,750 $50,200 $53,650 $57,100
80% of Median $48,450 $55,400 $62,300 $69,200 $74,750 $80,300 $85,850 $91,350