Affordable Housing In Henderson County
17 Low Income Apartment Communities In Henderson County
Guide To Affordable Housing in Henderson County, Kentucky
There are 17 low income housing apartment communities offering 1,193 affordable apartments for rent in Henderson County, Kentucky.
Income Based Apartments in Henderson County, Kentucky
Henderson County features 723 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 Henderson County, Kentucky
There are 470 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Henderson County.
Housing Choice Vouchers in Henderson County, Kentucky
On average, Section 8 Housing Choice vouchers pay Henderson County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Henderson County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Henderson County, Kentucky for a two-bedroom apartment is between $714 and $872.
2020 Henderson 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|
|Fair Market Rent||$565||$624||$793||$1,035||$1,097|
|Payment Standard Range||$509 to $622||$562 to $686||$714 to $872||$932 to $1,139||$987 to $1,207|
Sourced from federal housing data and AffordableHousingOnline.com research.
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|
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.
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 $74,800
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 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||$15,250||$17,400||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,400||$29,000||$32,650||$36,250||$39,150||$42,050||$44,950||$47,850|
|80% of Median||$40,600||$46,400||$52,200||$58,000||$62,650||$67,300||$71,950||$76,600|