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Affordable Housing In Crestwood
Oldham County, Kentucky

4 Low Income Apartment Communities In Crestwood

Graham Village

8809 W Highway 22
Crestwood, Kentucky
Accepts Vouchers

Graham Village Apartments

8801 State Hwy 22
Crestwood, Kentucky
Accepts Vouchers

Harvesting Hope II

Celebration Way
Crestwood, Kentucky
Accepts Vouchers

Windsong Apts

7000 Windsong Court
Crestwood, Kentucky
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Housing Authorities that serve Crestwood

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

Guide To Affordable Housing in Crestwood, Kentucky

There are 4 low income housing apartment communities offering 110 affordable apartments for rent in Crestwood, Kentucky.

Income Based Apartments in Crestwood, Kentucky

Crestwood 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 Crestwood, Kentucky

There are 110 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Crestwood.

Housing Choice Vouchers in Crestwood, Kentucky

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Crestwood, Kentucky for a two-bedroom apartment is between $785 and $959.

2020 Crestwood, 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
Fair Market Rent $614 $713 $872 $1,174 $1,331
Payment Standard Range $553 to $675 $642 to $784 $785 to $959 $1,057 to $1,291 $1,198 to $1,464

Sourced from federal housing data and research.

Crestwood, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 110
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 27.6%
Average Renter Household Size 2.01
Average Household Size 2.92
Median Household Income $82,773 ±$11,148
Median Rent $735 ±$207
Percentage Of Renters Overburdened 41.99% ± 13.58pp
Total Population 4,705

Population and Household Demographics

Crestwood is a city in Oldham County, Kentucky with a population of 4,705. There are 1,605 households in the city with an average household size of 2.92 persons. 27.6% of households in Crestwood are renters.

Income and Rent Overburden in Crestwood

The median gross income for households in Crestwood is $82,773 a year, or $6,898 a month. The median rent for the city is $735 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Crestwood, a household making less than $2,450 a month would be considered overburdened when renting an apartment at or above the median rent. 41.99% of households who rent are overburdened in Crestwood.

Area Median Income In Crestwood

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 Crestwood, the AMI is calculated from all households within Oldham County.

In Crestwood, HUD calculates the Area Median Income for a family of four as $77,500

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 Crestwood

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 Crestwood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,300 $18,600 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $27,150 $31,000 $34,900 $38,750 $41,850 $44,950 $48,050 $51,150
80% of Median $43,400 $49,600 $55,800 $62,000 $67,000 $71,950 $76,900 $81,850