Affordable Housing In Kenai Peninsula Borough
18 Low Income Apartment Communities In Kenai Peninsula Borough
Guide To Affordable Housing in Kenai Peninsula Borough, Alaska
There are 18 low income housing apartment communities offering 436 affordable apartments for rent in Kenai Peninsula Borough, Alaska.
Income Based Apartments in Kenai Peninsula Borough, Alaska
Kenai Peninsula Borough features 296 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 Kenai Peninsula Borough, Alaska
There are 140 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Kenai Peninsula Borough.
Housing Choice Vouchers in Kenai Peninsula Borough, Alaska
On average, Section 8 Housing Choice vouchers pay Kenai Peninsula Borough landlords $700 per month towards rent. The average voucher holder contributes $500 towards rent in Kenai Peninsula Borough.
The maximum amount a voucher would pay on behalf of a low-income tenant in Kenai Peninsula Borough, Alaska for a two-bedroom apartment is between $1,073 and $1,311.
2020 Kenai Peninsula 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||$896||$905||$1,192||$1,604||$1,723|
|Payment Standard Range||$806 to $986||$815 to $996||$1,073 to $1,311||$1,444 to $1,764||$1,551 to $1,895|
Sourced from federal housing data and AffordableHousingOnline.com research.
Kenai Peninsula Borough, AK Affordable Housing Snapshot
|Total Affordable Apartment Properties||18|
|Total Low Income Apartments||436|
|Total Housing Units with Rental Assistance||296|
|Percentage of Housing Units Occupied By Renters||27.55%|
|Average Renter Household Size||2.58|
|Average Household Size||2.57|
|Median Household Income||$63,684 ±$2,337|
|Median Rent||$940 ±$36|
|Percentage Of Renters Overburdened||38.28% ± 3.13pp|
Population and Household Demographics
Kenai Peninsula Borough is a county in Alaska with a population of 57,221. There are 21,485 households in the county with an average household size of 2.57 persons. 27.55% of households in Kenai Peninsula Borough are renters.
Income and Rent Overburden in Kenai Peninsula Borough
The median gross income for households in Kenai Peninsula Borough is $63,684 a year, or $5,307 a month. The median rent for the county is $940 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Kenai Peninsula Borough, a household making less than $3,133 a month would be considered overburdened when renting an apartment at or above the median rent. 38.28% of households who rent are overburdened in Kenai Peninsula Borough.
Area Median Income In Kenai Peninsula 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 Kenai Peninsula Borough, HUD calculates the Area Median Income for a family of four as $89,700
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 Kenai Peninsula 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 HUD Rental Assistance in Kenai Peninsula Borough
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$18,850||$21,550||$27,150||$32,750||$38,350||$43,950||$49,550||$55,150|
|50% of Median||$31,400||$35,900||$40,400||$44,850||$48,450||$52,050||$55,650||$59,250|
|80% of Median||$50,250||$57,400||$64,600||$71,750||$77,500||$83,250||$89,000||$94,750|
Cities In Kenai Peninsula Borough
Select A City to View its Apartment Communities and Waiting Lists.
|Homer||The HUD funded Public Housing Agency that serves Homer is the Alaska Housing Finance Corporation - Section 8.|
|Seward||The HUD funded Public Housing Agency that serves Seward is the Alaska Housing Finance Corporation - Public Housing.|
|Soldotna||The HUD funded Public Housing Agency that serves Soldotna is the Alaska Housing Finance Corporation - Section 8.|