Affordable Housing In Dry Ridge
Grant County, Kentucky

4 Low Income Apartment Communities In Dry Ridge

Locust Ridge Apartments

275 McCoy Road
Dry Ridge, Kentucky
Call For Rent
1-3 BR
Subsidized
Accessible

Maple Ridge Apartments

18 Michigan Avenue
Dry Ridge, Kentucky
Subsidized

Warsaw Place Apartments

24 Warsaw Rd
Dry Ridge, Kentucky

Meadowview Estates

302 Meadowview Cir
Dry Ridge, Kentucky
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Section 8 Vouchers, Apartments, and Waiting Lists in Dry Ridge, 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 Dry Ridge, Kentucky

Housing Authority Programs
Housing Authority of Dry Ridge Public Housing
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Dry Ridge, Kentucky

There are 4 low income housing apartment communities offering 188 affordable apartments for rent in Dry Ridge, Kentucky.

Income Based Apartments in Dry Ridge, Kentucky

Dry Ridge features 164 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 Dry Ridge, Kentucky

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Dry Ridge.

Housing Choice Vouchers in Dry Ridge, Kentucky

On average, Section 8 Housing Choice vouchers pay Dry Ridge landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Dry Ridge.

The maximum amount a voucher would pay on behalf of a low-income tenant in Dry Ridge, Kentucky for a two-bedroom apartment is between $746 and $912.

2022 Dry Ridge, 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
Dry Ridge, Kentucky Fair Market Rent $672 $728 $829 $1,168 $1,419
Dry Ridge, Kentucky Payment Standard Range $605 to $739 $655 to $801 $746 to $912 $1,051 to $1,285 $1,277 to $1,561

Sourced from federal housing data and AffordableHousingOnline.com research.

Dry Ridge, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 188
Total Housing Units with Rental Assistance 164
Percentage of Housing Units Occupied By Renters 62.42%
Average Renter Household Size 2.58
Average Household Size 2.76
Median Household Income $34,213 ±$6,935
Median Rent $619 ±$64
Percentage Of Renters Overburdened 50.58% ± 9.49pp
Total Population 2,341

Population and Household Demographics

Dry Ridge is a city in Grant County, Kentucky with a population of 2,341. There are 833 households in the city with an average household size of 2.76 persons. 62.42% of households in Dry Ridge are renters.

Income and Rent Overburden in Dry Ridge

The median gross income for households in Dry Ridge is $34,213 a year, or $2,851 a month. The median rent for the city is $619 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Dry Ridge, a household making less than $2,063 a month would be considered overburdened when renting an apartment at or above the median rent. 50.58% of households who rent are overburdened in Dry Ridge.

Area Median Income In Dry Ridge

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 Dry Ridge, the AMI is calculated from all households within Grant County.

In Dry Ridge, HUD calculates the Area Median Income for a family of four as $57,300

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 Dry Ridge

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 Dry Ridge

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 Dry Ridge AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $30,250 $32,500 $34,750 $37,000
50% AMI Income Limits
Renters earning up to 50% of the Dry Ridge AMI may qualify for rental assistance programs that target Very Low Income households.
$19,600 $22,400 $25,200 $28,000 $30,250 $32,500 $34,750 $37,000
80% AMI Income Limits
Renters earning up to 80% of the Dry Ridge AMI may qualify for rental assistance programs that target Low Income households.
$31,400 $35,850 $40,350 $44,800 $48,400 $52,000 $55,600 $59,150