Affordable Housing In Boone County
Kentucky

19 Low Income Apartment Communities In Boone County

Towne Creek Crossing Apartments

13160 Service Rd
Walton, KY
Call For Rent
1-3 BR
HCV Welcome

Aldersgate Apartments

8551 Aldersgate Drive
Florence, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Holly Park Apartments

724 East Lyon Street
Union, KY

Arcadia Park Apartments I and II

100 Christian Dr
Florence, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Dixie Apartments

7825 Riehl Dr
Florence, KY
Subsidized

Arcadia Park Apartments III

300 Christian Dr
Florence, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Brookview Townhouses

12661 Dixie Highway
Walton, KY

Burlington Terrace Apartments, Phase I

2895 Douglas Drive
Burlington, KY

Burlington Terrace Apartments, Phase II

2895 Douglas Drive
Burlington, KY

Burlington Terrace Apartments, Phase II

2895 Douglas Drive
Burlington, KY

There are 19 low income housing apartment complexes which contain 1,058 affordable apartments for rent in Boone County. Many of these rental apartments are income based housing with 494 apartments that set rent based on your income. In Boone County, HUD housing programs support 132 rental assistance apartments through programs like Project-based Section 8. There are 564 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Boone County

Housing Authority Programs
Boone County Assisted Housing Department Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Boone County, Kentucky

Boone County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 19
Total Low Income Apartments 1,058
Total Rent Assisted Apartments 494
Percentage of Housing Units Occupied By Renters 26.67%
Average Renter Household Size 2.46
Total Population 124,617
Housing Units 44,709
Average Household Size 2.77
Median Household Income $66,730 ±$1,965
Median Rent $905 ±$24
Percentage Of Renters Overburdened 38.48% ± 4.14pp

Population and Household Demographics

Boone County is a County in Kentucky with a population of 124,617. There are 44,709 households in the county with an average household size of 2.77 persons. 26.67% of households in Boone County are renters.

Income and Rent Overburden in Boone County

The median gross income for households in Boone County is $66,730 a year, or $5,561 a month. The median rent for the county is $905 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Boone County, a household making less than $3,017 a month would be considered overburdened when renting an apartment at or above the median rent. 38.48% of households who rent are overburdened in Boone County.1

Area Median Income In Boone 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 Boone County, HUD calculates the Area Median Income for a family of four as $81,300

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 Boone 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 Boone County HUD Rental Assistance in Boone County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,100 $19,550 $22,000 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
80% of Median $45,550 $52,050 $58,550 $65,050 $70,300 $75,500 $80,700 $85,900
Low Income Housing Tax Credits in Boone County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1992 to 2011, 8 low income apartment communities containing 749 rental apartments have been constructed and made affordable to low income persons in Boone County by the Low Income Housing Tax Credit Program.

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 Boone County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
60% of Median $34,200 $39,060 $43,920 $48,780 $52,740 $56,640 $60,540 $64,440

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 Boone County is $43,920 a year, or $3,660 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,660 by 30% to get a maximum rent of $1,098 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% $713 $763 $915 $1,058 $1,180 $1,302
60% $855 $916 $1,098 $1,269 $1,416 $1,562
Fair Market Rents in Boone 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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$584 $670 $884 $1,223 $1,414

Cities In Boone County

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

City Listings Served By
Florence 10 The HUD funded Public Housing Agency that serves Florence is the Boone County Assisted Housing Department.
Burlington 4 The HUD funded Public Housing Agency that serves Burlington is the Boone County Assisted Housing Department.
Walton 3 The HUD funded Public Housing Agency that serves Walton is the Boone County Assisted Housing Department.
Hebron 1 The HUD funded Public Housing Agency that serves Hebron is the Boone County Assisted Housing Department.
Belleview 0 The HUD funded Public Housing Agency that serves Belleview is the Boone County Assisted Housing Department.
Francisville 0 The HUD funded Public Housing Agency that serves Francisville is the Boone County Assisted Housing Department.
Oakbrook 0 The HUD funded Public Housing Agency that serves Oakbrook is the Boone County Assisted Housing Department.
Petersburg 0 The HUD funded Public Housing Agency that serves Petersburg is the Boone County Assisted Housing Department.
Rabbit Hash 0 The HUD funded Public Housing Agency that serves Rabbit Hash is the Boone County Assisted Housing Department.
Union 1 The HUD funded Public Housing Agency that serves Union is the Boone County Assisted Housing Department.
Verona 0 The HUD funded Public Housing Agency that serves Verona is the Boone County Assisted Housing Department.