Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. As of March 13, 2020, Public Housing Agencies across the nation are closing their doors to the public. Most offices are still running and will communicate by phone, email, or mail. Some offices have drop boxes installed outside, so documents can still be hand-delivered. Visit the housing authority's website for the latest on its current operations, if one is available. If there is no information online, contact the housing authority directly. Due to a high volume of calls and modified office hours in most areas, expect a long wait time (days or weeks) for a response. To find your local PHA's contact info, browse by state here.

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Lake and Peninsula Borough
Alaska

Guide To Affordable Housing in Lake and Peninsula Borough, Alaska

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Lake and Peninsula Borough, Alaska.

Income Based Apartments in Lake and Peninsula Borough, Alaska

Lake and Peninsula Borough features 0 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 Lake and Peninsula Borough, Alaska

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

Housing Choice Vouchers in Lake and Peninsula Borough, Alaska

On average, Section 8 Housing Choice vouchers pay Lake and Peninsula Borough landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Lake and Peninsula Borough.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake and Peninsula Borough, Alaska for a two-bedroom apartment is between $816 and $998.

2020 Lake and 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 $637 $726 $907 $1,194 $1,592
Payment Standard Range $573 to $701 $653 to $799 $816 to $998 $1,075 to $1,313 $1,433 to $1,751

Sourced from federal housing data and AffordableHousingOnline.com research.

Lake and Peninsula Borough, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 34.42%
Average Renter Household Size 2.81
Average Household Size 2.90
Median Household Income $50,781 ±$9,403
Median Rent $707 ±$101
Percentage Of Renters Overburdened 8.28% ± 3.63pp
Total Population 1,474

Population and Household Demographics

Lake and Peninsula Borough is a county in Alaska with a population of 1,474. There are 491 households in the county with an average household size of 2.90 persons. 34.42% of households in Lake and Peninsula Borough are renters.

Income and Rent Overburden in Lake and Peninsula Borough

The median gross income for households in Lake and Peninsula Borough is $50,781 a year, or $4,232 a month. The median rent for the county is $707 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake and Peninsula Borough, a household making less than $2,357 a month would be considered overburdened when renting an apartment at or above the median rent. 8.28% of households who rent are overburdened in Lake and Peninsula Borough.

Area Median Income In Lake and 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 Lake and Peninsula Borough, HUD calculates the Area Median Income for a family of four as $50,700

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 Lake and 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 Lake and Peninsula Borough

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,200 $21,550 $27,150 $32,750 $38,350 $43,950 $49,550 $55,150
50% of Median $30,300 $34,600 $38,950 $43,250 $46,750 $50,200 $53,650 $57,100
80% of Median $48,450 $55,400 $62,300 $69,200 $74,750 $80,300 $85,850 $91,350