Low Income Apartments and Affordable Housing For Rent in Kodiak Island Borough, AK

Discover affordable housing in Kodiak Island Borough where there are 4+ 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.

Spruce Cape Homes

529 Carroll Way, Kodiak, Alaska 99615

Fir Terrace Apartments

2610 Mill Bay Rd E-1, Kodiak, Alaska 99615

Mill Bay Town Homes

1223 Mill Bay Rd, Kodiak, Alaska 9961

Kodiak

914 Pillar Mountain Dr, Kodiak, Alaska 99615

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Kodiak Island Borough, Alaska
$34.32/hour
$22.59 (+193%) more than Alaska minimum wage and $27.07 (+373%) more than the Federal minimum wage.
Learn More About Kodiak Island Borough, Alaska Affordable Housing ↓

How many renters live in Kodiak Island Borough, Alaska?

The County of Kodiak Island Borough has 13,065 people living in 4,415 households.

There are 5,351 renters living in 1,915 renter households in this County. Renters make up 40.96 percent of the population living in Kodiak Island Borough.

What is the rental market like in Kodiak Island Borough, Alaska?

There are an estimated 5,798 housing units in the Kodiak Island Borough area. Of these, 2,144 units are rental homes, making up 37 percent of the housing market. For every renter household in Kodiak Island Borough, Alaska, there are 1 rental units.

What is the vacancy rate for rentals in Kodiak Island Borough?

The rental vacancy rate in Kodiak Island Borough is 10 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 Kodiak Island Borough for each bedroom size?

Occupied Rental Units by Size in Kodiak Island Borough
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
135 267 648 632 209
Occupied Rental Units by Size in Kodiak Island Borough

A large number of apartments in Kodiak Island 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 Kodiak Island Borough are overburdened by housing costs?

Among renter households in this market, 27 percent have housing cost burden. Further, 12 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 Kodiak Island Borough

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,228 to $2,622. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,228
One BR $1,379
Two BR $1,812
Three BR $2,220
Four BR $2,622
2024 Fair Market Rents in Kodiak Island Borough, Alaska

How many units are rented at Fair Market Rent (FMR) in Kodiak Island 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 23 17 percent
One BR 191 72 percent
Two BR 123 19 percent
Rental Units Below FMR in Kodiak Island Borough, Alaska

How many affordable rental units are in Kodiak Island Borough?

There are a variety of federal affordable housing programs serving households in Kodiak Island Borough, Alaska including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 292
Public Housing 40
USDA Section 515 Rural Rental Housing 60
Tracked Units by Federal Program in Kodiak Island Borough, Alaska

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

Income Based Apartments in Kodiak Island Borough, Alaska

Kodiak Island Borough features 100 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 Kodiak Island Borough, Alaska

There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Kodiak Island Borough.

Housing Choice Vouchers in Kodiak Island Borough, Alaska

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Kodiak Island Borough, Alaska for a two-bedroom apartment is between $1,631 and $1,993.

Sourced from federal housing data and AffordableHousingOnline.com research.