Affordable Housing In Grant County
Kentucky

12 Low Income Apartment Communities In Grant County

N Kentucky Community Action Commission

Rural Housing Program
Crittenden, KY
HCV Welcome

Meadowview Estates

302 Meadowview Cir
Dry Ridge, KY

There are 12 low income housing apartment complexes which contain 502 affordable apartments for rent in Grant County. Many of these rental apartments are income based housing with 412 apartments that set rent based on your income. In Grant County, HUD housing programs support 72 rental assistance apartments through programs like Project-based Section 8. There are 90 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Grant County

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

Other Housing Authorities located in Grant County

Housing Authority Programs
Housing Authority of Williamstown Public Housing
Housing Authority of Dry Ridge Public Housing

Guide To Affordable Housing in Grant County, Kentucky

Grant County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 12
Total Low Income Apartments 502
Total Rent Assisted Apartments 412
Percentage of Housing Units Occupied By Renters 29.56%
Average Renter Household Size 2.76
Total Population 24,670
Housing Units 8,325
Average Household Size 2.91
Median Household Income $44,824 ±$3,492
Median Rent $715 ±$38
Percentage Of Renters Overburdened 41.28% ± 7.03pp

Population and Household Demographics

Grant County is a County in Kentucky with a population of 24,670. There are 8,325 households in the county with an average household size of 2.91 persons. 29.56% of households in Grant County are renters.

Income and Rent Overburden in Grant County

The median gross income for households in Grant County is $44,824 a year, or $3,735 a month. The median rent for the county is $715 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grant County, a household making less than $2,383 a month would be considered overburdened when renting an apartment at or above the median rent. 41.28% of households who rent are overburdened in Grant County.1

Area Median Income In Grant 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 Grant County, HUD calculates the Area Median Income for a family of four as $53,100

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 Grant 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 Grant County HUD Rental Assistance in Grant County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $28,700 $30,800 $32,950 $35,050
50% of Median $18,600 $21,250 $23,900 $26,550 $28,700 $30,800 $32,950 $35,050
80% of Median $29,750 $34,000 $38,250 $42,500 $45,900 $49,300 $52,700 $56,100
Low Income Housing Tax Credits in Grant County

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

From 1989 to 1998, 6 low income apartment communities containing 126 rental apartments have been constructed and made affordable to low income persons in Grant 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 Grant County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,600 $21,250 $23,900 $26,550 $28,700 $30,800 $32,950 $35,050
60% of Median $22,320 $25,500 $28,680 $31,860 $34,440 $36,960 $39,540 $42,060

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 Grant County is $28,680 a year, or $2,390 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,390 by 30% to get a maximum rent of $717 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% $465 $498 $598 $691 $770 $850
60% $558 $598 $717 $829 $924 $1,020
Fair Market Rents in Grant 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
$630 $634 $799 $1,155 $1,388

Cities In Grant County

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

City Listings Served By
Crittenden 3 The HUD funded Public Housing Agency that serves Crittenden is the Kentucky Housing Corporation.
Corinth 3 The HUD funded Public Housing Agency that serves Corinth is the Kentucky Housing Corporation.
Dry Ridge 4 The HUD funded Public Housing Agencies that serve Dry Ridge are the Housing Authority of Dry Ridge and Kentucky Housing Corporation.
Williamstown 2 The HUD funded Public Housing Agencies that serve Williamstown are the Housing Authority of Williamstown and Kentucky Housing Corporation.