Affordable Housing In Garrard County
Kentucky

3 Low Income Apartment Communities In Garrard County

Lancaster Estates

220 Marksbury Ave
Lancaster, KY
Call For Rent
1-3 BR
HCV Welcome
Subsidized

Village Square Apartments

202 Doty Ln
Lancaster, KY
Subsidized

Kengarlan S - D

107 Kinnaird Ave
Lancaster, KY
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Housing Authorities that serve Garrard County

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

Other Housing Authorities located in Garrard County

Housing Authority Programs
Housing Authority of Lancaster Public Housing

Guide To Affordable Housing in Garrard County, Kentucky

According to federal housing data and AffordableHousingOnline.com research, there are 3 low income housing apartment communities offering 169 affordable apartments for rent in Garrard County, Kentucky. Garrard County features 169 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 Garrard County.

Garrard County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 169
Total Housing Units with Rental Assistance 169
Percentage of Housing Units Occupied By Renters 23.35%
Average Renter Household Size 2.78
Average Household Size 2.55
Median Household Income $44,243 ±$2,240
Median Rent $630 ±$38
Percentage Of Renters Overburdened 44.55% ± 8.03pp
Total Population 16,976

Population and Household Demographics

Garrard County is a County in Kentucky with a population of 16,976. There are 6,594 households in the county with an average household size of 2.55 persons. 23.35% of households in Garrard County are renters.

Income and Rent Overburden in Garrard County

The median gross income for households in Garrard County is $44,243 a year, or $3,687 a month. The median rent for the county is $630 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Garrard County, a household making less than $2,100 a month would be considered overburdened when renting an apartment at or above the median rent. 44.55% of households who rent are overburdened in Garrard County.1

Area Median Income In Garrard 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 Garrard County, HUD calculates the Area Median Income for a family of four as $59,700

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 Garrard 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 Garrard County HUD Rental Assistance in Garrard County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,550 $16,910 $21,330 $25,750 $30,170 $34,590 $37,050 $39,450
50% of Median $20,900 $23,900 $26,900 $29,850 $32,250 $34,650 $37,050 $39,450
80% of Median $33,450 $38,200 $43,000 $47,750 $51,600 $55,400 $59,250 $63,050

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 Garrard County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $20,900 $23,900 $26,900 $29,850 $32,250 $34,650 $37,050 $39,450
60% of Median $25,080 $28,680 $32,280 $35,820 $38,700 $41,580 $44,460 $47,340

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 Garrard County is $32,280 a year, or $2,690 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,690 by 30% to get a maximum rent of $807 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% $523 $560 $673 $776 $866 $956
60% $627 $672 $807 $932 $1,040 $1,148
Fair Market Rents in Garrard 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
$481 $531 $677 $844 $1,019

Cities In Garrard County

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

City Listings Served By
Lancaster 3 The HUD funded Public Housing Agencies that serve Lancaster are the Housing Authority of Lancaster and Kentucky Housing Corporation.