Affordable Housing In Independence
Kenton County, Kentucky

4 Low Income Apartment Communities In Independence

Voa Orv Madison Pike

4594 Oliver Rd
Independence, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Taylor Ridge

904 Regal Ridge Drive
Independence, Kentucky
Subsidized

Voa Orv Bunker Hill Court

11567 Bunker Hill Ct
Independence, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Wildewood Place Apartments ( Wynnbrook )

3920 Wynnbrook Dr
Independence, Kentucky
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Section 8 Vouchers, Apartments, and Waiting Lists in Independence, Kentucky

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Independence, Kentucky

Housing Authority Programs
Housing Authority of Covington - Section 8 Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV)
Housing Authority of Covington - Public Housing Public Housing

Guide To Affordable Housing in Independence, Kentucky

There are 4 low income housing apartment communities offering 206 affordable apartments for rent in Independence, Kentucky.

Income Based Apartments in Independence, Kentucky

Independence features 110 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 Independence, Kentucky

There are 96 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Independence.

Housing Choice Vouchers in Independence, Kentucky

On average, Section 8 Housing Choice vouchers pay Independence landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Independence.

The maximum amount a voucher would pay on behalf of a low-income tenant in Independence, Kentucky for a two-bedroom apartment is between $871 and $1,065.

2022 Independence, 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
Independence, Kentucky Fair Market Rent $643 $742 $968 $1,302 $1,483
Independence, Kentucky Payment Standard Range $579 to $707 $668 to $816 $871 to $1,065 $1,172 to $1,432 $1,335 to $1,631

Sourced from federal housing data and AffordableHousingOnline.com research.

Independence, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 206
Total Housing Units with Rental Assistance 110
Percentage of Housing Units Occupied By Renters 20.85%
Average Renter Household Size 3.21
Average Household Size 2.99
Median Household Income $65,653 ±$4,178
Median Rent $942 ±$56
Percentage Of Renters Overburdened 28.15% ± 8.14pp
Total Population 26,062

Population and Household Demographics

Independence is a city in Kenton County, Kentucky with a population of 26,062. There are 8,705 households in the city with an average household size of 2.99 persons. 20.85% of households in Independence are renters.

Income and Rent Overburden in Independence

The median gross income for households in Independence is $65,653 a year, or $5,471 a month. The median rent for the city is $942 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Independence, a household making less than $3,140 a month would be considered overburdened when renting an apartment at or above the median rent. 28.15% of households who rent are overburdened in Independence.

Area Median Income In Independence

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 Independence, the AMI is calculated from all households within Kenton County.

In Independence, HUD calculates the Area Median Income for a family of four as $85,400

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 Independence

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 Independence

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Independence AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,950 $20,500 $23,050 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Independence AMI may qualify for rental assistance programs that target Very Low Income households.
$29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
80% AMI Income Limits
Renters earning up to 80% of the Independence AMI may qualify for rental assistance programs that target Low Income households.
$47,850 $54,650 $61,500 $68,300 $73,800 $79,250 $84,700 $90,200