Affordable Housing In Wade Hampton Census Area
3 Low Income Apartment Communities In Wade Hampton Census Area
Guide To Affordable Housing in Wade Hampton Census Area, Alaska
There are 3 low income housing apartment communities offering 37 affordable apartments for rent in Wade Hampton Census Area, Alaska. Wade Hampton Census Area features 0 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 37 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Wade Hampton Census Area.
Sourced from federal housing data and AffordableHousingOnline.com research.
Wade Hampton Census Area, AK Affordable Housing Snapshot
|Total Affordable Apartment Properties||3|
|Total Low Income Apartments||37|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||%|
|Average Renter Household Size||0.00|
|Average Household Size||0.00|
|Median Household Income||$40,943 ±$1,772|
|Median Rent||$711 ±$167|
|Percentage Of Renters Overburdened||15.31% ± 4.02pp|
Population and Household Demographics
Wade Hampton Census Area is a County in Alaska with a population of 0. There are 0 households in the county with an average household size of 0.00 persons. % of households in Wade Hampton Census Area are renters.
Income and Rent Overburden in Wade Hampton Census Area
The median gross income for households in Wade Hampton Census Area is $40,943 a year, or $3,412 a month. The median rent for the county is $711 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wade Hampton Census Area, a household making less than $2,370 a month would be considered overburdened when renting an apartment at or above the median rent. 15.31% of households who rent are overburdened in Wade Hampton Census Area.1
Area Median Income In Wade Hampton 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 Wade Hampton Census Area, HUD calculates the Area Median Income for a family of four as $0
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 Wade Hampton 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.
Low Income Housing Tax Credits in Wade Hampton Census Area
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 2003 to 2009, 2 low income apartment communities containing 28 rental apartments have been constructed and made affordable to low income persons in Wade Hampton Census Area by the Low Income Housing Tax Credit Program.