Affordable Housing In Albany
Clinton County, Kentucky

11 Low Income Apartment Communities In Albany

Clinton Terrace

107 W Water Street
Albany, Kentucky
Call For Rent
1 BR
Subsidized
55+

Albany Commons II

190 Albany Commons St.
Albany, Kentucky
Subsidized

The Pines at Cumberland Apartments

306 E Cumberland St
Albany, Kentucky

Albany Manor Associates

RR 5
Albany, Kentucky
Subsidized

Golden Harvest Village

200 E Cumberland St
Albany, Kentucky
Subsidized

Albany Center Apartments

308 E Clear St
Albany, Kentucky
Subsidized

Foothills Subdivision

McWhorter RD
Albany, Kentucky

Albany Single Family Project

ROUTE 1, BOX 1034
Albany, Kentucky

Hidden Acres Subdivision

PO Box 15
Albany, Kentucky

Section 8 Vouchers, Apartments, and Waiting Lists in Albany, Kentucky

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 Albany, Kentucky

Housing Authority Programs
Housing Authority of Albany Public Housing

Guide To Affordable Housing in Albany, Kentucky

There are 11 low income housing apartment communities offering 315 affordable apartments for rent in Albany, Kentucky.

Income Based Apartments in Albany, Kentucky

Albany features 199 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 Albany, Kentucky

There are 116 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albany.

Housing Choice Vouchers in Albany, Kentucky

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Albany, Kentucky for a two-bedroom apartment is between $607 and $741.

2022 Albany, Kentucky 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
Albany, Kentucky Fair Market Rent $482 $557 $674 $870 $914
Albany, Kentucky Payment Standard Range $434 to $530 $501 to $613 $607 to $741 $783 to $957 $823 to $1,005

Sourced from federal housing data and AffordableHousingOnline.com research.

Albany, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 11
Total Low Income Apartments 315
Total Housing Units with Rental Assistance 199
Percentage of Housing Units Occupied By Renters 44.69%
Average Renter Household Size 2.10
Average Household Size 2.18
Median Household Income $19,238 ±$3,897
Median Rent $417 ±$24
Percentage Of Renters Overburdened 29.23% ± 11.53pp
Total Population 1,874

Population and Household Demographics

Albany is a city in Clinton County, Kentucky with a population of 1,874. There are 819 households in the city with an average household size of 2.18 persons. 44.69% of households in Albany are renters.

Income and Rent Overburden in Albany

The median gross income for households in Albany is $19,238 a year, or $1,603 a month. The median rent for the city is $417 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albany, a household making less than $1,390 a month would be considered overburdened when renting an apartment at or above the median rent. 29.23% of households who rent are overburdened in Albany.

Area Median Income In Albany

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 Albany, the AMI is calculated from all households within Clinton County.

In Albany, HUD calculates the Area Median Income for a family of four as $41,100

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 Albany

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 Albany

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 Albany AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $29,350 $31,500 $33,700 $35,850
50% AMI Income Limits
Renters earning up to 50% of the Albany AMI may qualify for rental assistance programs that target Very Low Income households.
$19,050 $21,750 $24,450 $27,150 $29,350 $31,500 $33,700 $35,850
80% AMI Income Limits
Renters earning up to 80% of the Albany AMI may qualify for rental assistance programs that target Low Income households.
$30,450 $34,800 $39,150 $43,450 $46,950 $50,450 $53,900 $57,400