Affordable Housing In Hustonville
Lincoln County, Kentucky

1 Low Income Apartment Communities In Hustonville

Hustonville Elderly Apartments

9600 E Main St
Hustonville, KY
Subsidized
  • «
  • 1
  • »

Housing Authorities that serve Hustonville

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

Guide To Affordable Housing in Hustonville, Kentucky

There are 1 low income housing apartment communities offering 16 affordable apartments for rent in Hustonville, Kentucky. Hustonville features 16 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Hustonville.

Sourced from federal housing data and AffordableHousingOnline.com research.

Hustonville, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 16
Total Housing Units with Rental Assistance 16
Percentage of Housing Units Occupied By Renters 43.01%
Average Renter Household Size 2.81
Average Household Size 2.21
Median Household Income $32,115 ±$20,860
Median Rent $743 ±$307
Percentage Of Renters Overburdened 26.5% ± 17.35pp
Total Population 602

Population and Household Demographics

Hustonville is a City in Lincoln County, Kentucky with a population of 602. There are 272 households in the city with an average household size of 2.21 persons. 43.01% of households in Hustonville are renters.

Income and Rent Overburden in Hustonville

The median gross income for households in Hustonville is $32,115 a year, or $2,676 a month. The median rent for the city is $743 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hustonville, a household making less than $2,477 a month would be considered overburdened when renting an apartment at or above the median rent. 26.5% of households who rent are overburdened in Hustonville.1

Area Median Income In Hustonville

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 Hustonville, the AMI is calculated from all households within Lincoln County.

In Hustonville, HUD calculates the Area Median Income for a family of four as $44,000

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 Hustonville

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 Hustonville HUD Rental Assistance in Hustonville

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 $25,600 $27,650 $29,700 $31,750 $33,800
50% of Median $17,950 $20,500 $23,050 $25,600 $27,650 $29,700 $31,750 $33,800
80% of Median $28,700 $32,800 $36,900 $40,950 $44,250 $47,550 $50,800 $54,100
Low Income Housing Tax Credits in Hustonville

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

From 1993 to 1993, 1 low income apartment communities containing 16 rental apartments have been constructed and made affordable to low income persons in Hustonville 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 Hustonville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $17,950 $20,500 $23,050 $25,600 $27,650 $29,700 $31,750 $33,800
60% of Median $21,540 $24,600 $27,660 $30,720 $33,180 $35,640 $38,100 $40,560

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 Hustonville is $27,660 a year, or $2,305 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,305 by 30% to get a maximum rent of $692 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% $449 $481 $576 $666 $743 $819
60% $539 $577 $692 $799 $891 $983
Fair Market Rents in Hustonville

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
$448 $479 $631 $827 $875