Affordable Housing In Inez
Martin County, Kentucky

2 Low Income Apartment Communities In Inez

Skeeze Ward Manor

300 Rockcastle Rd
Inez, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Quail Hollow II Apartments

72 Quail Hollow
Inez, KY
HCV Welcome
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Housing Authorities that serve Inez

Housing Authority Programs
Housing Authority of Martin County Public Housing
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Inez, Kentucky

There are 2 low income housing apartment communities offering 48 affordable apartments for rent in Inez, Kentucky. Inez features 24 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 24 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Inez.

Sourced from federal housing data and AffordableHousingOnline.com research.

Inez, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 48
Total Housing Units with Rental Assistance 24
Percentage of Housing Units Occupied By Renters 47.31%
Average Renter Household Size 1.65
Average Household Size 2.02
Median Household Income $22,500 ±$5,716
Median Rent $306 ±$55
Percentage Of Renters Overburdened 65.04% ± 15.65pp
Total Population 657

Population and Household Demographics

Inez is a City in Martin County, Kentucky with a population of 657. There are 260 households in the city with an average household size of 2.02 persons. 47.31% of households in Inez are renters.

Income and Rent Overburden in Inez

The median gross income for households in Inez is $22,500 a year, or $1,875 a month. The median rent for the city is $306 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Inez, a household making less than $1,020 a month would be considered overburdened when renting an apartment at or above the median rent. 65.04% of households who rent are overburdened in Inez.1

Area Median Income In Inez

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 Inez, the AMI is calculated from all households within Martin County.

In Inez, HUD calculates the Area Median Income for a family of four as $41,100

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 Inez

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 Inez HUD Rental Assistance in Inez

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

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 Inez

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 Inez 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 Inez

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 $500 $631 $786 $885