Affordable Housing In Henderson County

17 Low Income Apartment Communities In Henderson County

WARM Residences

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

Fair Acres Apartments

500 Fair St
Henderson, KY

Independent Living IIi - Henderson

1636 S Main St
Henderson, KY
Elderly Supportive Housing

Henderson Station I & II

1303 Washington St
Henderson, KY
HCV Welcome

Henderson Group Home

1660 S Main St
Henderson, KY
Elderly Supportive Housing

Countryview Apartments

1422 Mattingly Dr
Henderson, KY

Redbanks Apartments and Towers

737 Kimsey Ln
Henderson, KY
Elderly Supportive Housing

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

Other Housing Authorities located in Henderson County

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

Guide To Affordable Housing in Henderson County, Kentucky

According to federal housing data and research, there are 17 low income housing apartment communities offering 1,193 affordable apartments for rent in Henderson County, Kentucky. Henderson County 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 County.

Henderson County, 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 36.7%
Average Renter Household Size 2.24
Average Household Size 2.41
Median Household Income $41,036 ±$2,205
Median Rent $612 ±$20
Percentage Of Renters Overburdened 46.72% ± 4.55pp
Total Population 46,396

Population and Household Demographics

Henderson County is a County in Kentucky with a population of 46,396. There are 18,742 households in the county with an average household size of 2.41 persons. 36.7% of households in Henderson County are renters.

Income and Rent Overburden in Henderson County

The median gross income for households in Henderson County is $41,036 a year, or $3,420 a month. The median rent for the county is $612 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Henderson County, a household making less than $2,040 a month would be considered overburdened when renting an apartment at or above the median rent. 46.72% of households who rent are overburdened in Henderson County.1

Area Median Income In Henderson 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 Henderson County, 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 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 Henderson County HUD Rental Assistance in Henderson County

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

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

Cities In Henderson County

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

City Listings Served By
Henderson 17 The HUD funded Public Housing Agency that serves Henderson is the Housing Authority of Henderson.
Corydon 0
Robards 0
Spottsville 0