Affordable Housing In Graves County
Kentucky

18 Low Income Apartment Communities In Graves County

Mayfield Plaza Apartments

404 Babb Drive
Mayfield, KY
Income Based
1-4 BR
Subsidized

Locust Ridge Apartments

Lebanon St
Wingo, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Villa Madonna South Apartments

85 Father Riney Rd
Fancy Farm, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Villa Madonna West Apartments

36 Father Riney Rd
Fancy Farm, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Villa Madonna East

48 Father Riney Rd
Fancy Farm, KY

Wingo Apartments

90 Atlantic Ave
Wingo, KY
Subsidized

Davis Apartments

2049 Marion Cir
Mayfield, KY
Subsidized

Willow Group Home

230 E Willow Dr
Mayfield, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Westwood of Symsonia

60 Westwood Ave
Symsonia, KY
Subsidized

Mayfield Manor II

320 E James St
Mayfield, KY
HCV Welcome

There are 18 low income housing apartment complexes which contain 718 affordable apartments for rent in Graves County. Many of these rental apartments are income based housing with 596 apartments that set rent based on your income. In Graves County, HUD housing programs support 309 rental assistance apartments through programs like Project-based Section 8. There are 122 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Other Housing Authorities located in Graves County

Housing Authority Programs
Housing Authority of Mayfield Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Graves County, Kentucky

Graves County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 18
Total Low Income Apartments 718
Total Rent Assisted Apartments 596
Percentage of Housing Units Occupied By Renters 25.74%
Average Renter Household Size 2.37
Total Population 37,502
Housing Units 14,390
Average Household Size 2.56
Median Household Income $39,530 ±$2,015
Median Rent $575 ±$37
Percentage Of Renters Overburdened 42.82% ± 6.62pp

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.1

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 $56,100

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 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 Graves County HUD Rental Assistance in Graves 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 $30,170 $32,550 $34,800 $37,050
50% of Median $19,650 $22,450 $25,250 $28,050 $30,300 $32,550 $34,800 $37,050
80% of Median $31,450 $35,950 $40,450 $44,900 $48,500 $52,100 $55,700 $59,300
Low Income Housing Tax Credits in Graves County

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

From 1995 to 2011, 4 low income apartment communities containing 124 rental apartments have been constructed and made affordable to low income persons in Graves 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 Graves County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $19,650 $22,450 $25,250 $28,050 $30,300 $32,550 $34,800 $37,050
60% of Median $23,580 $26,940 $30,300 $33,660 $36,360 $39,060 $41,760 $44,460

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 Graves County is $30,300 a year, or $2,525 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,525 by 30% to get a maximum rent of $758 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% $491 $526 $631 $729 $814 $898
60% $590 $632 $758 $875 $977 $1,078
Fair Market Rents in Graves 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
$443 $467 $618 $830 $869

Cities In Graves County

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

City Listings Served By
Mayfield 10 The HUD funded Public Housing Agency that serves Mayfield is the Housing Authority of Mayfield.
Fancy Farm 4
Wingo 3
Symsonia 1
Farmington 0
Lowes 0
Pryorsburg 0
Sedalia 0
Water Valley 0