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Affordable Housing In Homer
Kenai Peninsula Borough, Alaska

Waiting List Openings In Homer

Anchorage, AK Section 8 HCV Waiting List

The Alaska Housing Finance Corporation (AHFC) Section 8 Housing Choice Voucher waiting list applications for Anchorage are being accepted from April 1, 2021 until April 30, 2021.

How to Apply for the Anchorage, AK Section 8 HCV Waiting List.

1 Low Income Apartment Communities In Homer

Conifer Woods Apartments

4014 Ben Walters Ln
Homer, Alaska
$881-980
1-2 BR
Subsidized
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Housing Authorities that serve Homer

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

Guide To Affordable Housing in Homer, Alaska

There are 1 low income housing apartment communities offering 32 affordable apartments for rent in Homer, Alaska.

Income Based Apartments in Homer, Alaska

Homer features 32 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 Homer, Alaska

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

Housing Choice Vouchers in Homer, Alaska

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Homer, Alaska for a two-bedroom apartment is between $969 and $1,185.

2021 Homer, 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
Homer, Alaska Fair Market Rent $814 $817 $1,077 $1,494 $1,624
Homer, Alaska Payment Standard Range $733 to $895 $735 to $899 $969 to $1,185 $1,345 to $1,643 $1,462 to $1,786

Sourced from federal housing data and AffordableHousingOnline.com research.

Homer, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 32
Total Housing Units with Rental Assistance 32
Percentage of Housing Units Occupied By Renters 37.75%
Average Renter Household Size 2.66
Average Household Size 2.49
Median Household Income $55,849 ±$2,997
Median Rent $932 ±$29
Percentage Of Renters Overburdened 50.82% ± 6.03pp
Total Population 5,324

Population and Household Demographics

Homer is a city in Kenai Peninsula Borough, Alaska with a population of 5,324. There are 2,090 households in the city with an average household size of 2.49 persons. 37.75% of households in Homer are renters.

Income and Rent Overburden in Homer

The median gross income for households in Homer is $55,849 a year, or $4,654 a month. The median rent for the city is $932 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Homer, a household making less than $3,107 a month would be considered overburdened when renting an apartment at or above the median rent. 50.82% of households who rent are overburdened in Homer.

Area Median Income In Homer

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 Homer, the AMI is calculated from all households within Kenai Peninsula Borough.

In Homer, HUD calculates the Area Median Income for a family of four as $92,100

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 Homer

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 Homer

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 Homer AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,400 $22,150 $27,450 $33,130 $38,810 $44,490 $50,170 $55,850
50% AMI Income Limits
Renters earning up to 50% of the Homer AMI may qualify for rental assistance programs that target Very Low Income households.
$32,250 $36,850 $41,450 $46,050 $49,750 $53,450 $57,150 $60,800
80% AMI Income Limits
Renters earning up to 80% of the Homer AMI may qualify for rental assistance programs that target Low Income households.
$51,600 $59,000 $66,350 $73,700 $79,600 $85,500 $91,400 $97,300