Low Income Apartments and Affordable Housing For Rent in Lake and Peninsula Borough, AK

Discover affordable housing in Lake and Peninsula Borough where there are 0+ 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.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake and Peninsula Borough, Alaska
$17.75/hour
$6.02 (+51%) more than Alaska minimum wage and $10.50 (+145%) more than the Federal minimum wage.
Learn More About Lake and Peninsula Borough, Alaska Affordable Housing ↓

How many renters live in Lake and Peninsula Borough, Alaska?

The County of Lake and Peninsula Borough has 999 people living in 326 households.

There are 293 renters living in 107 renter households in this County. Renters make up 29.33 percent of the population living in Lake and Peninsula Borough.

What is the rental market like in Lake and Peninsula Borough, Alaska?

There are an estimated 1,380 housing units in the Lake and Peninsula Borough area. Of these, 125 units are rental homes, making up 9 percent of the housing market. For every renter household in Lake and Peninsula Borough, Alaska, there are 1 rental units.

What is the vacancy rate for rentals in Lake and Peninsula Borough?

The rental vacancy rate in Lake and Peninsula Borough is 14 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 Lake and Peninsula Borough for each bedroom size?

Occupied Rental Units by Size in Lake and Peninsula Borough
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 14 43 25 25
Occupied Rental Units by Size in Lake and Peninsula Borough

A large number of apartments in Lake and Peninsula 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 Lake and Peninsula Borough are overburdened by housing costs?

Among renter households in this market, 5 percent have housing cost burden. Further, 1 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 Lake and Peninsula Borough

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $660 to $1,433. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $660
One BR $820
Two BR $937
Three BR $1,320
Four BR $1,433
2024 Fair Market Rents in Lake and Peninsula Borough, Alaska

How many units are rented at Fair Market Rent (FMR) in Lake and Peninsula 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
One BR 2 14 percent
Two BR 10 23 percent
Rental Units Below FMR in Lake and Peninsula Borough, Alaska

How many affordable rental units are in Lake and Peninsula Borough?

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 $843 and $1,031.

Sourced from federal housing data and AffordableHousingOnline.com research.