Affordable Housing In Ballard County
Kentucky

1 Low Income Apartment Communities In Ballard County

Colony House Apartments, Ltd

S 6th St
Barlow, KY
Subsidized
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Housing Authorities that serve Ballard County

Housing Authority Programs
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Ballard County, Kentucky

According to federal housing data and AffordableHousingOnline.com research, 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.

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
Total Population 8,256

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

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Ballard County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $21,150 $24,150 $27,150 $30,150 $32,600 $35,000 $37,400 $39,800
60% of Median $25,380 $28,980 $32,580 $36,180 $39,120 $42,000 $44,880 $47,760

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Ballard County is $32,580 a year, or $2,715 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,715 by 30% to get a maximum rent of $815 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $529 $566 $679 $784 $875 $965
60% $635 $680 $815 $941 $1,050 $1,158
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
$484 $517 $681 $849 $923

Cities In Ballard County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
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.