Affordable Housing In Steele Creek
Fairbanks North Star Borough, Alaska

Guide To Affordable Housing in Steele Creek, Alaska

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

Income Based Apartments in Steele Creek, Alaska

Steele Creek 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 Steele Creek, Alaska

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

Housing Choice Vouchers in Steele Creek, Alaska

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Steele Creek, Alaska for a two-bedroom apartment is between $1,193 and $1,458.

2020 Steele Creek, 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.

Steele Creek, 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 20.93%
Average Renter Household Size 2.11
Average Household Size 2.62
Median Household Income $82,049 ±$10,605
Median Rent $1,329 ±$709
Percentage Of Renters Overburdened 38.72% ± 24.07pp
Total Population 6,272

Population and Household Demographics

Steele Creek is a City in Fairbanks North Star Borough, Alaska with a population of 6,272. There are 2,394 households in the city with an average household size of 2.62 persons. 20.93% of households in Steele Creek are renters.

Income and Rent Overburden in Steele Creek

The median gross income for households in Steele Creek is $82,049 a year, or $6,837 a month. The median rent for the city is $1,329 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Steele Creek, a household making less than $4,430 a month would be considered overburdened when renting an apartment at or above the median rent. 38.72% of households who rent are overburdened in Steele Creek.1

Area Median Income In Steele Creek

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 Steele Creek, the AMI is calculated from all households within Fairbanks North Star Borough.

In Steele Creek, 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 Steele Creek

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 Steele Creek HUD Rental Assistance in Steele Creek

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