Affordable Housing In Matanuska Susitna Borough
Alaska

32 Low Income Apartment Communities In Matanuska Susitna Borough

Whispering Winds Senior Apartments

507 E Cope Industrial Way
Palmer, AK
Call For Rent
1-2 BR
HCV Welcome

Chinook Villa Apartments

1200 S Century Cir
Wasilla, AK
Call For Rent
1 BR
62+

Forest Apartments

328 W Cottonwood Avenue
Palmer, AK
Call For Rent
1-2 BR

Northridge Apartments

424 E Dogwood Ave
Palmer, AK
Call For Rent
1-2 BR

Vista Rose

1250 N. Lucille Street
Wasilla, AK
Call For Rent
1-2 BR
62+
Accessible

Sutton Annex

15838 N Glenn Hwy
Sutton, AK
62+
Accessible
Elderly Supportive Housing
Subsidized

Mid - Valley Manor

11913 W Mid Valley Way
Houston, AK
62+
Accessible
Elderly Supportive Housing
Subsidized

Cranberry Ridge

11881 W Mid Valley Way
Houston, AK
62+
Accessible
Elderly Supportive Housing
Subsidized

Sutton Manor

15816 N Glenn Hwy
Sutton, AK
62+
Accessible
Elderly Supportive Housing
Subsidized

Daybreak Apartments ( Cmi )

2080 N Hemmer Rd
Palmer, AK
62+
Accessible
Elderly Supportive Housing
Subsidized

Guide To Affordable Housing in Matanuska Susitna Borough, Alaska

According to federal housing data and AffordableHousingOnline.com research, there are 32 low income housing apartment communities offering 858 affordable apartments for rent in Matanuska Susitna Borough, Alaska. Matanuska Susitna Borough features 137 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 721 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Matanuska Susitna Borough.

Matanuska Susitna Borough, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 32
Total Low Income Apartments 858
Total Housing Units with Rental Assistance 137
Percentage of Housing Units Occupied By Renters 24.33%
Average Renter Household Size 2.88
Average Household Size 3.03
Median Household Income $72,983 ±$1,577
Median Rent $1,073 ±$26
Percentage Of Renters Overburdened 43.64% ± 2.74pp
Total Population 96,178

Population and Household Demographics

Matanuska Susitna Borough is a County in Alaska with a population of 96,178. There are 31,098 households in the county with an average household size of 3.03 persons. 24.33% of households in Matanuska Susitna Borough are renters.

Income and Rent Overburden in Matanuska Susitna Borough

The median gross income for households in Matanuska Susitna Borough is $72,983 a year, or $6,082 a month. The median rent for the county is $1,073 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Matanuska Susitna Borough, a household making less than $3,577 a month would be considered overburdened when renting an apartment at or above the median rent. 43.64% of households who rent are overburdened in Matanuska Susitna Borough.1

Area Median Income In Matanuska Susitna 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 Matanuska Susitna Borough, HUD calculates the Area Median Income for a family of four as $92,600

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 Matanuska Susitna 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 Matanuska Susitna Borough HUD Rental Assistance in Matanuska Susitna Borough

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,500 $22,250 $26,660 $32,190 $37,720 $43,250 $48,780 $54,310
50% of Median $32,450 $37,050 $41,700 $46,300 $50,050 $53,750 $57,450 $61,150
80% of Median $51,900 $59,300 $66,700 $74,100 $80,050 $86,000 $91,900 $97,850
Low Income Housing Tax Credits in Matanuska Susitna Borough

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 2008, 17 low income apartment communities containing 481 rental apartments have been constructed and made affordable to low income persons in Matanuska Susitna Borough by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Matanuska Susitna Borough

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $32,450 $37,050 $41,700 $46,300 $50,050 $53,750 $57,450 $61,150
60% of Median $38,940 $44,460 $50,040 $55,560 $60,060 $64,500 $68,940 $73,380

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Matanuska Susitna Borough is $50,040 a year, or $4,170 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,170 by 30% to get a maximum rent of $1,251 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $811 $869 $1,043 $1,204 $1,344 $1,483
60% $974 $1,043 $1,251 $1,445 $1,613 $1,779
Fair Market Rents in Matanuska Susitna Borough

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$741 $792 $1,043 $1,505 $1,831

Cities In Matanuska Susitna Borough

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Wasilla 17 The HUD funded Public Housing Agencies that serve Wasilla are the Alaska Housing Finance Corporation - Section 8 and Alaska Housing Finance Corporation - Public Housing.
Palmer 11
Houston 2
Sutton 2