Affordable Housing In Petersburg Borough
Guide To Affordable Housing in Petersburg Borough, Alaska
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Petersburg Borough, Alaska.
Income Based Apartments in Petersburg Borough, Alaska
Petersburg 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 Petersburg Borough, Alaska
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Petersburg Borough.
Housing Choice Vouchers in Petersburg Borough, Alaska
On average, Section 8 Housing Choice vouchers pay Petersburg Borough landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Petersburg Borough.
The maximum amount a voucher would pay on behalf of a low-income tenant in Petersburg Borough, Alaska for a two-bedroom apartment is between $1,059 and $1,295.
2020 Petersburg 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||$767||$957||$1,177||$1,467||$1,860|
|Payment Standard Range||$690 to $844||$861 to $1,053||$1,059 to $1,295||$1,320 to $1,614||$1,674 to $2,046|
Sourced from federal housing data and AffordableHousingOnline.com research.
Petersburg 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||32.71%|
|Average Renter Household Size||1.98|
|Average Household Size||2.40|
|Median Household Income||$67,935 ±$7,678|
|Median Rent||$938 ±$65|
|Percentage Of Renters Overburdened||40.24% ± 8.39pp|
Population and Household Demographics
Petersburg Borough is a County in Alaska with a population of 3,221. There are 1,284 households in the county with an average household size of 2.40 persons. 32.71% of households in Petersburg Borough are renters.
Income and Rent Overburden in Petersburg Borough
The median gross income for households in Petersburg Borough is $67,935 a year, or $5,661 a month. The median rent for the county is $938 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Petersburg Borough, a household making less than $3,127 a month would be considered overburdened when renting an apartment at or above the median rent. 40.24% of households who rent are overburdened in Petersburg Borough.1
Area Median Income In Petersburg 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 Petersburg Borough, HUD calculates the Area Median Income for a family of four as $85,000
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 Petersburg 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 Petersburg Borough HUD Rental Assistance in Petersburg Borough
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$17,850||$21,130||$26,660||$32,190||$37,720||$43,250||$48,780||$54,310|
|50% of Median||$29,750||$34,000||$38,250||$42,500||$45,900||$49,300||$52,700||$56,100|
|80% of Median||$47,600||$54,400||$61,200||$68,000||$73,450||$78,900||$84,350||$89,800|