Affordable Housing In Sitka
4 Low Income Apartment Communities In Sitka
Housing Authorities that serve Sitka
|Alaska Housing Finance Corporation - Section 8||Section 8 Housing Choice Voucher (HCV); Moving to Work|
|Alaska Housing Finance Corporation - Public Housing||Public Housing; Moving to Work|
Guide To Affordable Housing in Sitka, Alaska
There are 4 low income housing apartment communities offering 122 affordable apartments for rent in Sitka, Alaska. Sitka features 50 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 72 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Sitka.
Sourced from federal housing data and AffordableHousingOnline.com research.
Sitka, AK Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||122|
|Total Housing Units with Rental Assistance||50|
|Percentage of Housing Units Occupied By Renters||40.78%|
|Average Renter Household Size||2.25|
|Average Household Size||2.49|
|Median Household Income||$70,376 ±$4,235|
|Median Rent||$1,057 ±$63|
|Percentage Of Renters Overburdened||40.11% ± 5.29pp|
Population and Household Demographics
Sitka is a City in Alaska with a population of 8,943. There are 3,472 households in the city with an average household size of 2.49 persons. 40.78% of households in Sitka are renters.
Income and Rent Overburden in Sitka
The median gross income for households in Sitka is $70,376 a year, or $5,865 a month. The median rent for the city is $1,057 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sitka, a household making less than $3,523 a month would be considered overburdened when renting an apartment at or above the median rent. 40.11% of households who rent are overburdened in Sitka.1
Area Median Income In Sitka
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 Sitka, HUD calculates the Area Median Income for a family of four as $56,700
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 Sitka
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 Sitka HUD Rental Assistance in Sitka
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$19,150||$21,900||$26,660||$32,190||$37,720||$43,250||$48,780||$54,310|
|50% of Median||$31,900||$36,450||$41,000||$45,550||$49,200||$52,850||$56,500||$60,150|
|80% of Median||$51,050||$58,350||$65,650||$72,900||$78,750||$84,600||$90,400||$96,250|
Fair Market Rents in Sitka
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|