Affordable Housing In Fairbanks North Star Borough
Alaska

26 Low Income Apartment Communities In Fairbanks North Star Borough

River Point Village

2589 Chief William Dr
Fairbanks, AK
Accepts Vouchers

Women and Children - Fna

1027 Evergreen St
Fairbanks, AK
Accepts Vouchers

Weeks Field Estates Phase II ( Tcep )

1301 Kellum St
Fairbanks, AK
Accepts Vouchers

Park West Apartments

2012 Sandvik St
Fairbanks, AK
Accepts Vouchers

Birch House

25th Ave
Fairbanks, AK
Accepts Vouchers

Dinaa Yah - Our House

1511 21st Ave
Fairbanks, AK
Accepts Vouchers

Guide To Affordable Housing in Fairbanks North Star Borough, Alaska

There are 26 low income housing apartment communities offering 1,108 affordable apartments for rent in Fairbanks North Star Borough, Alaska.

Income Based Apartments in Fairbanks North Star Borough, Alaska

Fairbanks North Star Borough features 617 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 491 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 $1,193 and $1,458.

2020 Fairbanks North Star Borough, 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 $863 $1,006 $1,325 $1,911 $2,326
Payment Standard Range $777 to $949 $905 to $1,107 $1,193 to $1,458 $1,720 to $2,102 $2,093 to $2,559

Sourced from federal housing data and AffordableHousingOnline.com research.

Fairbanks North Star Borough, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 26
Total Low Income Apartments 1,108
Total Housing Units with Rental Assistance 617
Percentage of Housing Units Occupied By Renters 41.89%
Average Renter Household Size 2.51
Average Household Size 2.69
Median Household Income $71,068 ±$1,964
Median Rent $1,216 ±$35
Percentage Of Renters Overburdened 49.19% ± 3.48pp
Total Population 99,705

Population and Household Demographics

Fairbanks North Star Borough is a County in Alaska with a population of 99,705. There are 35,582 households in the county with an average household size of 2.69 persons. 41.89% of households in Fairbanks North Star Borough are renters.

Income and Rent Overburden in Fairbanks North Star Borough

The median gross income for households in Fairbanks North Star Borough is $71,068 a year, or $5,922 a month. The median rent for the county is $1,216 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fairbanks North Star Borough, a household making less than $4,053 a month would be considered overburdened when renting an apartment at or above the median rent. 49.19% of households who rent are overburdened in Fairbanks North Star Borough.1

Area Median Income In Fairbanks North Star Borough

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 Fairbanks North Star Borough, HUD calculates the Area Median Income for a family of four as $92,400

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 Fairbanks North Star Borough

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 Fairbanks North Star Borough HUD Rental Assistance in Fairbanks North Star Borough

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,400 $22,200 $26,660 $32,190 $37,720 $43,250 $48,780 $54,310
50% of Median $32,350 $37,000 $41,600 $46,200 $49,900 $53,600 $57,300 $61,000
80% of Median $51,750 $59,150 $66,550 $73,900 $79,850 $85,750 $91,650 $97,550

Cities In Fairbanks North Star Borough

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Fairbanks 24 The HUD funded Public Housing Agencies that serve Fairbanks are the Alaska Housing Finance Corporation - Section 8 and Alaska Housing Finance Corporation - Public Housing.
North Pole 2
Badger 0
Chena Ridge 0
College 0
Eielson AFB 0
Ester 0
Farmers Loop 0
Fox 0
Goldstream 0
Harding Birch Lakes 0
Moose Creek 0
Pleasant Valley 0
Salcha 0
South Van Horn 0
Steele Creek 0
Two Rivers 0
Harding-Birch Lakes 0