Affordable Housing In Henry County

Waiting List Openings In Henry County

Waiting ListStatus
Kentucky Housing Corporation Housing Choice Voucher Open Now

8 Low Income Apartment Communities In Henry County

Tristan Ridge Apartments

171 S King St
Eminence, KY
Call For Rent
1-2 BR
HCV Welcome

Lakeview Apartments

17 Darlene Ct
Campbellsburg, KY

Osage Estates

303 Osage Ct
New Castle, KY

Eminence Ridge

33 Apachee Cir
Eminence, KY

Eminence Mulberry

191 Sycamore Dr
Eminence, KY

New Castle Apartments

400 George Mason Dr
New Castle, KY

Campbellsburg Townhomes Apartments

15 Darlene Ct
Campbellsburg, KY

Canon Court

54 Lou Ave
Eminence, KY
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There are 8 low income housing apartment complexes which contain 329 affordable apartments for rent in Henry County. Many of these rental apartments are income based housing with 285 apartments that set rent based on your income. In Henry County, HUD housing programs support 128 rental assistance apartments through programs like Project-based Section 8. There are 44 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Henry County

Housing Authority Programs
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Henry County

Housing Authority Programs
Housing Authority of Eminence Public Housing

Guide To Affordable Housing in Henry County, Kentucky

Henry County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 329
Total Rent Assisted Apartments 285
Percentage of Housing Units Occupied By Renters 29.99%
Average Renter Household Size 2.53
Total Population 15,455
Housing Units 5,992
Average Household Size 2.57
Median Household Income $46,495 ±$2,717
Median Rent $700 ±$29
Percentage Of Renters Overburdened 44.13% ± 7.34pp

Population and Household Demographics

Henry County is a County in Kentucky with a population of 15,455. There are 5,992 households in the county with an average household size of 2.57 persons. 29.99% of households in Henry County are renters.

Income and Rent Overburden in Henry County

The median gross income for households in Henry County is $46,495 a year, or $3,875 a month. The median rent for the county is $700 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Henry County, a household making less than $2,333 a month would be considered overburdened when renting an apartment at or above the median rent. 44.13% of households who rent are overburdened in Henry County.1

Area Median Income In Henry 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 Henry County, HUD calculates the Area Median Income for a family of four as $76,400

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 Henry 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 Henry County HUD Rental Assistance in Henry County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
80% of Median $42,800 $48,900 $55,000 $61,100 $66,000 $70,900 $75,800 $80,700
Low Income Housing Tax Credits in Henry County

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

From 1994 to 1994, 1 low income apartment communities containing 24 rental apartments have been constructed and made affordable to low income persons in Henry 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 Henry County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
60% of Median $32,100 $36,720 $41,280 $45,840 $49,560 $53,220 $56,880 $60,540

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 Henry County is $41,280 a year, or $3,440 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,440 by 30% to get a maximum rent of $1,032 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% $669 $717 $860 $994 $1,109 $1,223
60% $803 $860 $1,032 $1,193 $1,331 $1,468
Fair Market Rents in Henry 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
$602 $688 $853 $1,158 $1,307

Cities In Henry County

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

City Listings Served By
New Castle 2 The HUD funded Public Housing Agency that serves New Castle is the Kentucky Housing Corporation.
Eminence 4 The HUD funded Public Housing Agencies that serve Eminence are the Housing Authority of Eminence and Kentucky Housing Corporation.
Campbellsburg 2 The HUD funded Public Housing Agency that serves Campbellsburg is the Kentucky Housing Corporation.
Pleasureville 0 The HUD funded Public Housing Agency that serves Pleasureville is the Kentucky Housing Corporation.
Smithfield 0 The HUD funded Public Housing Agency that serves Smithfield is the Kentucky Housing Corporation.