Affordable Housing In North Pole
Fairbanks North Star Borough,
2 Low Income Apartment Communities In North Pole
Guide To Affordable Housing in North Pole, Alaska
There are 2 low income housing apartment communities offering 37 affordable apartments for rent in North Pole, Alaska.
Income Based Apartments in North Pole, Alaska
North Pole features 6 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 North Pole, Alaska
There are 31 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Pole.
Housing Choice Vouchers in North Pole, Alaska
On average, Section 8 Housing Choice vouchers pay North Pole landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in North Pole.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Pole, Alaska for a two-bedroom apartment is between $1,193 and $1,458.
2020 North Pole, 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||$863||$1,006||$1,325||$1,911||$2,326|
|Payment Standard Range||$777 to $949||$905 to $1,107||$1,193 to $1,458||$1,720 to $2,102||$2,093 to $2,559|
Sourced from federal housing data and AffordableHousingOnline.com research.
North Pole, AK Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||37|
|Total Housing Units with Rental Assistance||6|
|Percentage of Housing Units Occupied By Renters||43.21%|
|Average Renter Household Size||2.11|
|Average Household Size||2.79|
|Median Household Income||$70,536 ±$15,915|
|Median Rent||$1,113 ±$123|
|Percentage Of Renters Overburdened||40.92% ± 14.86pp|
Population and Household Demographics
North Pole is a City in Fairbanks North Star Borough, Alaska with a population of 2,265. There are 803 households in the city with an average household size of 2.79 persons. 43.21% of households in North Pole are renters.
Income and Rent Overburden in North Pole
The median gross income for households in North Pole is $70,536 a year, or $5,878 a month. The median rent for the city is $1,113 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In North Pole, a household making less than $3,710 a month would be considered overburdened when renting an apartment at or above the median rent. 40.92% of households who rent are overburdened in North Pole.1
Area Median Income In North Pole
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.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For North Pole, the AMI is calculated from all households within Fairbanks North Star Borough.
In North Pole, HUD calculates the Area Median Income for a family of four as $92,400
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 North Pole
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 North Pole HUD Rental Assistance in North Pole
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$19,400||$22,200||$26,660||$32,190||$37,720||$43,250||$48,780||$54,310|
|50% of Median||$32,350||$37,000||$41,600||$46,200||$49,900||$53,600||$57,300||$61,000|
|80% of Median||$51,750||$59,150||$66,550||$73,900||$79,850||$85,750||$91,650||$97,550|