Affordable Housing In Valdez
Valdez Cordova Census Area, Alaska

2 Low Income Apartment Communities In Valdez

Sound View Apartments

454 W Hanagita St
Valdez, Alaska

Valdez

100 Alatna St
Valdez, Alaska
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Section 8 Vouchers, Apartments, and Waiting Lists in Valdez, Alaska

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Valdez, Alaska

Housing Authority Programs
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 Valdez, Alaska

There are 2 low income housing apartment communities offering 27 affordable apartments for rent in Valdez, Alaska.

Income Based Apartments in Valdez, Alaska

Valdez features 7 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 Valdez, Alaska

There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Valdez.

Housing Choice Vouchers in Valdez, Alaska

On average, Section 8 Housing Choice vouchers pay Valdez landlords $600 per month towards rent. The average voucher holder contributes $500 towards rent in Valdez.

The maximum amount a voucher would pay on behalf of a low-income tenant in Valdez, Alaska for a two-bedroom apartment is between $1,035 and $1,265.

2022 Valdez, 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
Valdez, Alaska Fair Market Rent $764 $987 $1,150 $1,422 $1,968
Valdez, Alaska Payment Standard Range $688 to $840 $888 to $1,086 $1,035 to $1,265 $1,280 to $1,564 $1,771 to $2,165

Sourced from federal housing data and AffordableHousingOnline.com research.

Valdez, AK Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 27
Total Housing Units with Rental Assistance 7
Percentage of Housing Units Occupied By Renters 32.8%
Average Renter Household Size 2.96
Average Household Size 3.18
Median Household Income $98,204 ±$23,231
Median Rent $1,136 ±$117
Percentage Of Renters Overburdened 39.59% ± 18.28pp
Total Population 3,979

Population and Household Demographics

Valdez is a city in Valdez Cordova Census Area, Alaska with a population of 3,979. There are 1,186 households in the city with an average household size of 3.18 persons. 32.8% of households in Valdez are renters.

Income and Rent Overburden in Valdez

The median gross income for households in Valdez is $98,204 a year, or $8,184 a month. The median rent for the city is $1,136 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Valdez, a household making less than $3,787 a month would be considered overburdened when renting an apartment at or above the median rent. 39.59% of households who rent are overburdened in Valdez.

Area Median Income In Valdez

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 Valdez, the AMI is calculated from all households within Valdez Cordova Census Area.

In Valdez, HUD calculates the Area Median Income for a family of four as $110,200

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 Valdez

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 Valdez

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 Valdez AMI may qualify for rental assistance programs that target Extremely Low Income households.
$23,150 $26,450 $29,750 $34,690 $40,590 $46,490 $52,390 $58,290
50% AMI Income Limits
Renters earning up to 50% of the Valdez AMI may qualify for rental assistance programs that target Very Low Income households.
$38,600 $44,100 $49,600 $55,100 $59,550 $63,950 $68,350 $72,750
80% AMI Income Limits
Renters earning up to 80% of the Valdez AMI may qualify for rental assistance programs that target Low Income households.
$61,750 $70,550 $79,350 $88,150 $95,250 $102,300 $109,350 $116,400