Affordable Housing In Irvine
Estill County, Kentucky

8 Low Income Apartment Communities In Irvine

Irvine School Apartments

229 Broadway St
Irvine, KY
Call For Rent
1-2 BR
HCV Welcome

Renaissance

114 Collins Ave
Irvine, KY
HCV Welcome

Stacy Lane Apartments

2600 Stacy Lane Rd
Irvine, KY
Subsidized

Au Associates : Irvine School Apartments Rental

223 Broadway St
Irvine, KY
HCV Welcome

Mountain Crest

234 Wallace Cir
Irvine, KY

Irvine West Apartments

125 Ridge Rd
Irvine, KY
HCV Welcome

North Irvine Apartments II

1100 Winchester Rd
Irvine, KY
Subsidized

Northwood Apartments II

1050 Winchester Rd
Irvine, KY
Subsidized
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Housing Authorities that serve Irvine

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

Guide To Affordable Housing in Irvine, Kentucky

There are 8 low income housing apartment communities offering 304 affordable apartments for rent in Irvine, Kentucky. Irvine features 216 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 88 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Irvine.

Sourced from federal housing data and AffordableHousingOnline.com research.

Irvine, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 304
Total Housing Units with Rental Assistance 216
Percentage of Housing Units Occupied By Renters 52.76%
Average Renter Household Size 2.22
Average Household Size 2.23
Median Household Income $21,875 ±$3,587
Median Rent $396 ±$67
Percentage Of Renters Overburdened 30.17% ± 10.6pp
Total Population 2,223

Population and Household Demographics

Irvine is a City in Estill County, Kentucky with a population of 2,223. There are 980 households in the city with an average household size of 2.23 persons. 52.76% of households in Irvine are renters.

Income and Rent Overburden in Irvine

The median gross income for households in Irvine is $21,875 a year, or $1,823 a month. The median rent for the city is $396 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Irvine, a household making less than $1,320 a month would be considered overburdened when renting an apartment at or above the median rent. 30.17% of households who rent are overburdened in Irvine.1

Area Median Income In Irvine

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 Irvine, the AMI is calculated from all households within Estill County.

In Irvine, HUD calculates the Area Median Income for a family of four as $42,600

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 Irvine

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 Irvine HUD Rental Assistance in Irvine

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 Irvine

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

From 1994 to 2002, 4 low income apartment communities containing 95 rental apartments have been constructed and made affordable to low income persons in Irvine 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 Irvine

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 Irvine 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 Irvine

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 $786 $921