Affordable Housing In Northway Village
Southeast Fairbanks Census Area, Alaska

Guide To Affordable Housing in Northway Village, Alaska

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Northway Village, Alaska.

Income Based Apartments in Northway Village, Alaska

Northway Village 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 Northway Village, Alaska

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Northway Village.

Housing Choice Vouchers in Northway Village, Alaska

On average, Section 8 Housing Choice vouchers pay Northway Village landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Northway Village.

The maximum amount a voucher would pay on behalf of a low-income tenant in Northway Village, Alaska for a two-bedroom apartment is between $1,105 and $1,351.

2022 Northway Village, 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
Northway Village, Alaska Fair Market Rent $927 $933 $1,228 $1,744 $1,955
Northway Village, Alaska Payment Standard Range $834 to $1,020 $840 to $1,026 $1,105 to $1,351 $1,570 to $1,918 $1,760 to $2,151

Sourced from federal housing data and AffordableHousingOnline.com research.

Northway Village, 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 3.57%
Average Renter Household Size 0.00
Average Household Size 3.29
Median Household Income $20,000 ±$6,398
Median Rent $0 ±$0
Percentage Of Renters Overburdened 100% ± 1558.85pp
Total Population 92

Population and Household Demographics

Northway Village is a city in Southeast Fairbanks Census Area, Alaska with a population of 92. There are 28 households in the city with an average household size of 3.29 persons. 3.57% of households in Northway Village are renters.

Income and Rent Overburden in Northway Village

The median gross income for households in Northway Village is $20,000 a year, or $1,667 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Northway Village, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 100% of households who rent are overburdened in Northway Village.

Area Median Income In Northway Village

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 Northway Village, the AMI is calculated from all households within Southeast Fairbanks Census Area.

In Northway Village, HUD calculates the Area Median Income for a family of four as $94,500

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 Northway Village

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 Northway Village

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Northway Village AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,850 $22,890 $28,790 $34,690 $40,590 $46,490 $52,390 $58,290
50% AMI Income Limits
Renters earning up to 50% of the Northway Village AMI may qualify for rental assistance programs that target Very Low Income households.
$33,100 $37,800 $42,550 $47,250 $51,050 $54,850 $58,600 $62,400
80% AMI Income Limits
Renters earning up to 80% of the Northway Village AMI may qualify for rental assistance programs that target Low Income households.
$52,950 $60,500 $68,050 $75,600 $81,650 $87,700 $93,750 $99,800