Affordable Housing In Betsy Layne
Floyd County, Kentucky

Section 8 Vouchers, Apartments, and Waiting Lists in Betsy Layne, 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 Betsy Layne, Kentucky

Housing Authority Programs
Housing Authority of Floyd County Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Betsy Layne, Kentucky

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Betsy Layne, Kentucky.

Income Based Apartments in Betsy Layne, Kentucky

Betsy Layne features 0 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 Betsy Layne, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Betsy Layne.

Housing Choice Vouchers in Betsy Layne, Kentucky

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

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

2022 Betsy Layne, 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
Betsy Layne, Kentucky Fair Market Rent $482 $512 $674 $833 $993
Betsy Layne, Kentucky Payment Standard Range $434 to $530 $461 to $563 $607 to $741 $750 to $916 $894 to $1,092

Sourced from federal housing data and AffordableHousingOnline.com research.

Betsy Layne, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 4.46%
Average Renter Household Size 4.00
Average Household Size 2.91
Median Household Income $0 ±$0
Median Rent $0 ±$0
Percentage Of Renters Overburdened 0% ± 183.33pp
Total Population 782

Population and Household Demographics

Betsy Layne is a city in Floyd County, Kentucky with a population of 782. There are 269 households in the city with an average household size of 2.91 persons. 4.46% of households in Betsy Layne are renters.

Income and Rent Overburden in Betsy Layne

The median gross income for households in Betsy Layne is $0 a year, or $0 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Betsy Layne, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Betsy Layne.

Area Median Income In Betsy Layne

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 Betsy Layne, the AMI is calculated from all households within Floyd County.

In Betsy Layne, HUD calculates the Area Median Income for a family of four as $40,400

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 Betsy Layne

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 Betsy Layne

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 Betsy Layne 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 Betsy Layne 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 Betsy Layne 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