Alaska residents have less than a week to apply to get on a rental assistance program waitlist with the Alaska Housing Finance Corporation.
If they’re selected, residents who meet the income requirements for the Housing Choice Voucher program would receive assistance paying rent over five years. Funding for the program comes from the federal Department of Housing and Urban Development.
During the first year, a tenant would pay an amount equal to 28.5% of their income in rent, with the corporation paying the difference directly to landlords, AHFC spokeswoman Stacy Barnes said.
“In years two through five, you are actually going to pay a little bit more to your landlord, with the idea that at the end of year five, the AHFC subsidy has completely ended, and you are able to pay the full contract rent yourself,” Barnes said.
For certain applicants, like seniors and those with disabilities, Barnes said there is no time limit for how long they would receive the assistance.
AHFC last opened the rental assistance waitlist in 2023. Since reopening it at the start of April, Barnes said they’ve received about 2,600 applications, with another 200 people still on the 2023 waitlist.
After the deadline closes on April 30, the names on the waitlist will be randomized and officials will start going through to set up assistance, Barnes said.
“If you're at the top of the list, we may be able to start offering you assistance as soon as June this year,” Barnes said. “If you're closer to the bottom of the list, that's where we might expect that it might be 17 or 18 months.”
Ultimately, Barnes said, the goal is to help residents have more choice in where they can live, as well as allowing them to slowly become more financially self-sufficient over the 5-year period.
“Housing Choice Voucher Program allows those individuals to continue to do their work and to pursue their dreams and the things that they need to do to accommodate their family, also recognizing that that a portion of their rent burden is something that is covered for them and they don't have to think about every day,” Barnes said.
The application period to get on the Housing Choice Voucher waitlist closes on Wednesday, April 30, at 1 p.m.
