Affordable Housing In Henderson
Henderson County, Kentucky

17 Low Income Apartment Communities In Henderson

WARM Residences

38 N McKinley St
Henderson, KY
Call For Rent
2-3 BR
HCV Welcome

Fair Acres Apartments

500 Fair St
Henderson, KY
Subsidized

Independent Living IIi - Henderson

1636 S Main St
Henderson, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Henderson Station I & II

1303 Washington St
Henderson, KY
HCV Welcome

Henderson Group Home

1660 S Main St
Henderson, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Countryview Apartments

1422 Mattingly Dr
Henderson, KY
Subsidized

Redbanks Apartments and Towers

737 Kimsey Ln
Henderson, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Cambridge Pointe Apartments

2718 Zion Rd
Henderson, KY
HCV Welcome

Sand Lane Manor

505 Sand Ln
Henderson, KY
HCV Welcome

Scattered Sites ( 4 Sites )

520 Clay St
Henderson, KY

Housing Authorities that serve Henderson

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

Guide To Affordable Housing in Henderson, Kentucky

There are 17 low income housing apartment communities offering 1,193 affordable apartments for rent in Henderson, Kentucky. Henderson features 723 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 470 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Henderson.

Sourced from federal housing data and AffordableHousingOnline.com research.

Henderson, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 17
Total Low Income Apartments 1,193
Total Housing Units with Rental Assistance 723
Percentage of Housing Units Occupied By Renters 48.71%
Average Renter Household Size 2.18
Average Household Size 2.24
Median Household Income $34,879 ±$2,053
Median Rent $615 ±$18
Percentage Of Renters Overburdened 47.55% ± 4.89pp
Total Population 28,889

Population and Household Demographics

Henderson is a City in Henderson County, Kentucky with a population of 28,889. There are 12,313 households in the city with an average household size of 2.24 persons. 48.71% of households in Henderson are renters.

Income and Rent Overburden in Henderson

The median gross income for households in Henderson is $34,879 a year, or $2,907 a month. The median rent for the city is $615 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Henderson, a household making less than $2,050 a month would be considered overburdened when renting an apartment at or above the median rent. 47.55% of households who rent are overburdened in Henderson.1

Area Median Income In Henderson

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 Henderson, the AMI is calculated from all households within Henderson County.

In Henderson, HUD calculates the Area Median Income for a family of four as $67,200

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 Henderson

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 Henderson HUD Rental Assistance in Henderson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,150 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,550 $26,900 $30,250 $33,600 $36,300 $39,000 $41,700 $44,400
80% of Median $37,650 $43,000 $48,400 $53,750 $58,050 $62,350 $66,650 $70,950
Low Income Housing Tax Credits in Henderson

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, 11 low income apartment communities containing 580 rental apartments have been constructed and made affordable to low income persons in Henderson 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 Henderson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,550 $26,900 $30,250 $33,600 $36,300 $39,000 $41,700 $44,400
60% of Median $28,260 $32,280 $36,300 $40,320 $43,560 $46,800 $50,040 $53,280

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 Henderson is $36,300 a year, or $3,025 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,025 by 30% to get a maximum rent of $908 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% $589 $631 $756 $874 $975 $1,076
60% $707 $757 $908 $1,049 $1,170 $1,292
Fair Market Rents in Henderson

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
$565 $624 $793 $1,035 $1,097