Affordable Housing In Knott County

3 Low Income Apartment Communities In Knott County

Sun Valley Apartments

28 Cave Branch Rd
Hindman, KY
Disabled Supportive Housing

Hindman Hills Apartments

42 Hindman Hills Rd
Hindman, KY

Troublesome Val - Pippa Pa

30 Caney Cir
Pippa Passes, KY
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Housing Authorities that serve Knott County

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

Guide To Affordable Housing in Knott County, Kentucky

According to federal housing data and research, there are 3 low income housing apartment communities offering 133 affordable apartments for rent in Knott County, Kentucky. Knott County features 133 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 Knott County.

Knott County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 133
Total Housing Units with Rental Assistance 133
Percentage of Housing Units Occupied By Renters 22.41%
Average Renter Household Size 2.71
Average Household Size 2.57
Median Household Income $30,411 ±$3,850
Median Rent $479 ±$70
Percentage Of Renters Overburdened 29.53% ± 7.43pp
Total Population 16,000

Population and Household Demographics

Knott County is a County in Kentucky with a population of 16,000. There are 5,984 households in the county with an average household size of 2.57 persons. 22.41% of households in Knott County are renters.

Income and Rent Overburden in Knott County

The median gross income for households in Knott County is $30,411 a year, or $2,534 a month. The median rent for the county is $479 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Knott County, a household making less than $1,597 a month would be considered overburdened when renting an apartment at or above the median rent. 29.53% of households who rent are overburdened in Knott County.1

Area Median Income In Knott 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 Knott County, HUD calculates the Area Median Income for a family of four as $39,000

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 Knott 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 Knott County HUD Rental Assistance in Knott County

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 Knott County

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

From 1995 to 1995, 1 low income apartment communities containing 36 rental apartments have been constructed and made affordable to low income persons in Knott 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 Knott County

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 Knott County 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 Knott 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$448 $495 $631 $848 $855

Cities In Knott County

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

City Listings Served By
Hindman 2 The HUD funded Public Housing Agencies that serve Hindman are the Housing Authority of Knott County and Kentucky Housing Corporation.
Pippa Passes 1 The HUD funded Public Housing Agency that serves Pippa Passes is the Kentucky Housing Corporation.
Vicco 0 The HUD funded Public Housing Agency that serves Vicco is the Kentucky Housing Corporation.