305 N 2nd St
Mayfield, Kentucky

Windhaven III

306 N 4th St
Mayfield, Kentucky

Locust Ridge Apartments

Lebanon St
Wingo, Kentucky
Rent Assisted
Elderly Supportive Housing

Northeast Court

511 Brookside Dr
Mayfield, Kentucky

Villa Madonna East

48 Father Riney Rd
Fancy Farm, Kentucky
Showing Results 1-5

There are 122 low-income apartments in Graves County that offer reduced rents to eligible households.

Rental assistance programs support 500 low-income homes in Graves County where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $256 towards rent each month.

Affordable rent data for some communities last confirmed on April 23rd, 2021. Subdsidized rents typically change once a year based on federal guidance.

Graves County, Kentucky Affordable Housing Data

Income Based Apartments in Graves County, Kentucky

Graves County features 500 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 Graves County, Kentucky

There are 122 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Graves County.

Housing Choice Vouchers in Graves County, Kentucky

On average, Section 8 Housing Choice vouchers pay Graves County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Graves County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Graves County, Kentucky for a two-bedroom apartment is between $668 and $816.

2023 Graves County, 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
Graves County, Kentucky Fair Market Rent $538 $564 $742 $1,043 $1,130
Graves County, Kentucky Payment Standard Range $484 to $592 $508 to $620 $668 to $816 $939 to $1,147 $1,017 to $1,243

Sourced from federal housing data and research.

Graves County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 18
Total Low Income Apartments 622
Total Housing Units with Rental Assistance 500
Percentage of Housing Units Occupied By Renters 25.74%
Average Renter Household Size 2.37
Average Household Size 2.56
Median Household Income $39,530 ±$2,015
Median Rent $575 ±$37
Percentage Of Renters Overburdened 42.82% ± 6.62pp
Total Population 37,502

Population and Household Demographics

Graves County is a county in Kentucky with a population of 37,502. There are 14,390 households in the county with an average household size of 2.56 persons. 25.74% of households in Graves County are renters.

Income and Rent Overburden in Graves County

The median gross income for households in Graves County is $39,530 a year, or $3,294 a month. The median rent for the county is $575 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Graves County, a household making less than $1,917 a month would be considered overburdened when renting an apartment at or above the median rent. 42.82% of households who rent are overburdened in Graves County.

Area Median Income In Graves 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 Graves County, HUD calculates the Area Median Income for a family of four as $69,300

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 Graves 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 HUD Rental Assistance in Graves County

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 Graves County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,600 $19,720 $24,860 $30,000 $35,140 $40,200 $43,000 $45,750
50% AMI Income Limits
Renters earning up to 50% of the Graves County AMI may qualify for rental assistance programs that target Very Low Income households.
$24,300 $27,750 $31,200 $34,650 $37,450 $40,200 $43,000 $45,750
80% AMI Income Limits
Renters earning up to 80% of the Graves County AMI may qualify for rental assistance programs that target Low Income households.
$38,850 $44,400 $49,950 $55,450 $59,900 $64,350 $68,800 $73,200