Low Income Apartments and Affordable Housing For Rent in Fairbanks North Star Borough, AK

Discover affordable housing in Fairbanks North Star Borough where there are 25+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Chenana Apartments

5190 Amherst Dr, Fairbanks, Alaska 99709

Tanana Apartments

350 S Santa Claus Ln, North Pole, Alaska 99705

Executive Estates

1620 Washington Dr, Fairbanks, Alaska 99709

Andrew J. Flodin Apartments

2980 Mack Blvd, Fairbanks, Alaska 99709

Mary a Nordale House

594 Slater Dr, Fairbanks, Alaska 99701

John L Noyes House Foundation

3747 Erickson Ave, Fairbanks, Alaska 99709

Ivan V Fosheim House

4455 Condor Ct, Fairbanks, Alaska 99709

Golden Towers Apartments

330 3rd Ave, Fairbanks, Alaska 99701

Moore Street Senior Apartments

1420 Moore St, Fairbanks, Alaska 99701

Marybeth Hafele House

430 Craig Ave, Fairbanks, Alaska 99701

John L Turner House

11 Steelhead Rd, Fairbanks, Alaska 99709

Jack and Virginia Wright House

721 E 8th Ave, North Pole, Alaska 99705

Harding House

1508 25th Ave, Fairbanks, Alaska 99701

Little Dipper Apartments

1910 Turner St, Fairbanks, Alaska 99701

Fairbanks

401 7th Ave, Fairbanks, Alaska 99701

River Point Village

2589 Chief William Dr, Fairbanks, Alaska 99709

Mlh Manor Apartments

301 7th Ave, Fairbanks, Alaska 99701

Parkwest Apartments

2006 Sandvik St, Fairbanks, Alaska 99709

Weeks Field Estates Phase II ( Tcep )

1301 Kellum St, Fairbanks, Alaska 99701

Raven Estates Apartments

24th and Cowles, Fairbanks, Alaska 99701

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Fairbanks North Star Borough, Alaska
$31.17/hour
$19.44 (+166%) more than Alaska minimum wage and $23.92 (+330%) more than the Federal minimum wage.
Learn More About Fairbanks North Star Borough, Alaska Affordable Housing ↓

How many renters live in Fairbanks North Star Borough, Alaska?

The County of Fairbanks North Star Borough has 95,356 people living in 37,356 households.

There are 34,088 renters living in 15,099 renter households in this County. Renters make up 35.75 percent of the population living in Fairbanks North Star Borough.

What is the rental market like in Fairbanks North Star Borough, Alaska?

There are an estimated 42,772 housing units in the Fairbanks North Star Borough area. Of these, 16,179 units are rental homes, making up 38 percent of the housing market. For every renter household in Fairbanks North Star Borough, Alaska, there are 1 rental units.

What is the vacancy rate for rentals in Fairbanks North Star Borough?

The rental vacancy rate in Fairbanks North Star Borough is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Fairbanks North Star Borough for each bedroom size?

Occupied Rental Units by Size in Fairbanks North Star Borough
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
1,694 3,197 4,553 3,543 1,082
Occupied Rental Units by Size in Fairbanks North Star Borough

A large number of apartments in Fairbanks North Star Borough have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Fairbanks North Star Borough are overburdened by housing costs?

Among renter households in this market, 43 percent have housing cost burden. Further, 18 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Fairbanks North Star Borough

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,116 to $2,793. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,116
One BR $1,253
Two BR $1,646
Three BR $2,320
Four BR $2,793
2024 Fair Market Rents in Fairbanks North Star Borough, Alaska

How many units are rented at Fair Market Rent (FMR) in Fairbanks North Star Borough?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 1,462 86 percent
One BR 2,233 70 percent
Two BR 2,702 59 percent
Rental Units Below FMR in Fairbanks North Star Borough, Alaska

How many affordable rental units are in Fairbanks North Star Borough?

There are a variety of federal affordable housing programs serving households in Fairbanks North Star Borough, Alaska including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 533
Public Housing 165
Section 8 Project-Based Rental Assistance 367
Section 202 Supportive Housing for the Elderly 19
Section 811 Supportive Housing for Persons with Disabilities 49
USDA Section 515 Rural Rental Housing 31
Tracked Units by Federal Program in Fairbanks North Star Borough, Alaska

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Fairbanks North Star Borough, Alaska

Fairbanks North Star Borough features 580 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 Fairbanks North Star Borough, Alaska

There are 429 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fairbanks North Star Borough.

Housing Choice Vouchers in Fairbanks North Star Borough, Alaska

On average, Section 8 Housing Choice vouchers pay Fairbanks North Star Borough landlords $700 per month towards rent. The average voucher holder contributes $500 towards rent in Fairbanks North Star Borough.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fairbanks North Star Borough, Alaska for a two-bedroom apartment is between $1,481 and $1,811.

Sourced from federal housing data and AffordableHousingOnline.com research.