Affordable Housing In Fairbanks
Fairbanks North Star Borough, Alaska

24 Low Income Apartment Communities In Fairbanks

Moore Street Senior Apartments

1420 Moore St
Fairbanks, Alaska
Subsidized
62+
Accessible
Elderly Supportive Housing

Harding House

1508 25th Ave
Fairbanks, Alaska
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Raven Estates Apartments

24th & Cowles
Fairbanks, Alaska
Accepts Vouchers

Forget - Me - Not Assisted Senior Project

Nhn Evergreen St
Fairbanks, Alaska
Accepts Vouchers

Parkwest Apartments

2006 Sandvik St
Fairbanks, Alaska
Subsidized

Mlh Manor Apartments

301 7th Ave
Fairbanks, Alaska
Accepts Vouchers

Lacey Street Apartments ( Northward )

455 3rd Ave
Fairbanks, Alaska
Accepts Vouchers

Fairbanks

401 7th Ave
Fairbanks, Alaska

River Point Village

2589 Chief William Dr
Fairbanks, Alaska
Accepts Vouchers

Women and Children - Fna

1027 Evergreen St
Fairbanks, Alaska
Accepts Vouchers

Housing Authorities that serve Fairbanks

Housing Authority Programs
Alaska Housing Finance Corporation - Section 8 Section 8 Housing Choice Voucher (HCV); Moving to Work
Alaska Housing Finance Corporation - Public Housing Public Housing; Moving to Work

Guide To Affordable Housing in Fairbanks, Alaska

There are 24 low income housing apartment communities offering 1,071 affordable apartments for rent in Fairbanks, Alaska.

Income Based Apartments in Fairbanks, Alaska

Fairbanks features 611 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, Alaska

There are 460 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fairbanks.

Housing Choice Vouchers in Fairbanks, Alaska

On average, Section 8 Housing Choice vouchers pay Fairbanks landlords $600 per month towards rent. The average voucher holder contributes $500 towards rent in Fairbanks.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fairbanks, Alaska for a two-bedroom apartment is between $1,193 and $1,458.

2020 Fairbanks, 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, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 24
Total Low Income Apartments 1,071
Total Housing Units with Rental Assistance 611
Percentage of Housing Units Occupied By Renters 64.03%
Average Renter Household Size 2.60
Average Household Size 2.67
Median Household Income $55,229 ±$3,231
Median Rent $1,259 ±$58
Percentage Of Renters Overburdened 55.31% ± 4.91pp
Total Population 32,193

Population and Household Demographics

Fairbanks is a City in Fairbanks North Star Borough, Alaska with a population of 32,193. There are 11,228 households in the city with an average household size of 2.67 persons. 64.03% of households in Fairbanks are renters.

Income and Rent Overburden in Fairbanks

The median gross income for households in Fairbanks is $55,229 a year, or $4,602 a month. The median rent for the city is $1,259 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fairbanks, a household making less than $4,197 a month would be considered overburdened when renting an apartment at or above the median rent. 55.31% of households who rent are overburdened in Fairbanks.1

Area Median Income In Fairbanks

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 Fairbanks, the AMI is calculated from all households within Fairbanks North Star Borough.

In Fairbanks, 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

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 Fairbanks

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