Affordable Housing In Valdez Cordova Census Area
Alaska

4 Low Income Apartment Communities In Valdez Cordova Census Area

Guide To Affordable Housing in Valdez Cordova Census Area, Alaska

There are 4 low income housing apartment communities offering 71 affordable apartments for rent in Valdez Cordova Census Area, Alaska.

Income Based Apartments in Valdez Cordova Census Area, Alaska

Valdez Cordova Census Area features 29 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 Cordova Census Area, Alaska

There are 42 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Valdez Cordova Census Area.

Housing Choice Vouchers in Valdez Cordova Census Area, Alaska

On average, Section 8 Housing Choice vouchers pay Valdez Cordova Census Area landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Valdez Cordova Census Area.

The maximum amount a voucher would pay on behalf of a low-income tenant in Valdez Cordova Census Area, Alaska for a two-bedroom apartment is between $1,117 and $1,365.

2020 Valdez Cordova Census Area, 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	$809	$1,090	$1,241	$1,546	$1,847
Payment Standard Range	$728 to $890	$981 to $1,199	$1,117 to $1,365	$1,391 to $1,701	$1,662 to $2,032

Sourced from federal housing data and AffordableHousingOnline.com research.

Valdez Cordova Census Area, AK Affordable Housing Snapshot

Total Affordable Apartment Properties	4
Total Low Income Apartments	71
Total Housing Units with Rental Assistance	29
Percentage of Housing Units Occupied By Renters	29.4%
Average Renter Household Size	2.87
Average Household Size	3.10
Median Household Income	$78,810 ±$5,996
Median Rent	$974 ±$175
Percentage Of Renters Overburdened	27.34% ± 9.44pp
Total Population	9,617

Population and Household Demographics

Valdez Cordova Census Area is a county in Alaska with a population of 9,617. There are 3,010 households in the county with an average household size of 3.10 persons. 29.4% of households in Valdez Cordova Census Area are renters.

Income and Rent Overburden in Valdez Cordova Census Area

The median gross income for households in Valdez Cordova Census Area is $78,810 a year, or $6,568 a month. The median rent for the county is $974 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Valdez Cordova Census Area, a household making less than $3,247 a month would be considered overburdened when renting an apartment at or above the median rent. 27.34% of households who rent are overburdened in Valdez Cordova Census Area.

Area Median Income In Valdez Cordova Census Area

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 Valdez Cordova Census Area, HUD calculates the Area Median Income for a family of four as $113,200

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 Cordova Census Area

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 Cordova Census Area

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$23,700	$27,100	$30,500	$33,850	$38,350	$43,950	$49,550	$55,150
50% of Median	$39,500	$45,150	$50,800	$56,400	$60,950	$65,450	$69,950	$74,450
80% of Median	$54,950	$62,800	$70,650	$78,500	$84,800	$91,100	$97,350	$103,650