Affordable Housing In Ballard County
1 Low Income Apartment Communities In Ballard County
Housing Authorities that serve Ballard County
|Kentucky Housing Corporation||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Ballard County, Kentucky
There are 1 low income housing apartment communities offering 48 affordable apartments for rent in Ballard County, Kentucky. Ballard County features 48 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Ballard County.
Sourced from federal housing data and AffordableHousingOnline.com research.
Ballard County, KY Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||48|
|Total Housing Units with Rental Assistance||48|
|Percentage of Housing Units Occupied By Renters||18.55%|
|Average Renter Household Size||2.73|
|Average Household Size||2.48|
|Median Household Income||$42,244 ±$2,473|
|Median Rent||$611 ±$42|
|Percentage Of Renters Overburdened||42.95% ± 9.45pp|
Population and Household Demographics
Ballard County is a County in Kentucky with a population of 8,256. There are 3,288 households in the county with an average household size of 2.48 persons. 18.55% of households in Ballard County are renters.
Income and Rent Overburden in Ballard County
The median gross income for households in Ballard County is $42,244 a year, or $3,520 a month. The median rent for the county is $611 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ballard County, a household making less than $2,037 a month would be considered overburdened when renting an apartment at or above the median rent. 42.95% of households who rent are overburdened in Ballard County.1
Area Median Income In Ballard County
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 Ballard County, HUD calculates the Area Median Income for a family of four as $60,300
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 Ballard County
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 Ballard County HUD Rental Assistance in Ballard County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,700||$16,910||$21,330||$25,750||$30,170||$34,590||$37,400||$39,800|
|50% of Median||$21,150||$24,150||$27,150||$30,150||$32,600||$35,000||$37,400||$39,800|
|80% of Median||$33,800||$38,600||$43,450||$48,250||$52,150||$56,000||$59,850||$63,700|
Fair Market Rents in Ballard County
Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.
2020 Fair Market Rents
|Studio||One BR||Two BR||Three BR||Four BR|
Cities In Ballard County
Select A City to View its Apartment Communities and Waiting Lists.
|Barlow||1||The HUD funded Public Housing Agency that serves Barlow is the Kentucky Housing Corporation.|
|Wickliffe||0||The HUD funded Public Housing Agency that serves Wickliffe is the Kentucky Housing Corporation.|
|La Center||0||The HUD funded Public Housing Agency that serves La Center is the Kentucky Housing Corporation.|
|Bandana||0||The HUD funded Public Housing Agency that serves Bandana is the Kentucky Housing Corporation.|
|Kevil||0||The HUD funded Public Housing Agency that serves Kevil is the Kentucky Housing Corporation.|
|Blandville||0||The HUD funded Public Housing Agency that serves Blandville is the Kentucky Housing Corporation.|
|Lovelaceville||0||The HUD funded Public Housing Agency that serves Lovelaceville is the Kentucky Housing Corporation.|