Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. As of March 13, 2020, Public Housing Agencies across the nation are closing their doors to the public. Most offices are still running and will communicate by phone, email, or mail. Some offices have drop boxes installed outside, so documents can still be hand-delivered. Visit the housing authority's website for the latest on its current operations, if one is available. If there is no information online, contact the housing authority directly. Due to a high volume of calls and modified office hours in most areas, expect a long wait time (days or weeks) for a response. To find your local PHA's contact info, browse by state here.

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Lakeside Park
Kenton County, Kentucky

Housing Authorities that serve Lakeside Park

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 Lakeside Park, Kentucky

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Lakeside Park, Kentucky.

Income Based Apartments in Lakeside Park, Kentucky

Lakeside Park features 0 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 Lakeside Park, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lakeside Park.

Housing Choice Vouchers in Lakeside Park, Kentucky

On average, Section 8 Housing Choice vouchers pay Lakeside Park landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Lakeside Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lakeside Park, Kentucky for a two-bedroom apartment is between $779 and $952.

2020 Lakeside Park, 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
Fair Market Rent $568 $658 $865 $1,185 $1,362
Payment Standard Range $511 to $625 $592 to $724 $779 to $952 $1,067 to $1,304 $1,226 to $1,498

Sourced from federal housing data and AffordableHousingOnline.com research.

Lakeside Park, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 30.64%
Average Renter Household Size 2.13
Average Household Size 2.38
Median Household Income $61,319 ±$16,343
Median Rent $713 ±$229
Percentage Of Renters Overburdened 30.88% ± 20.75pp
Total Population 2,757

Population and Household Demographics

Lakeside Park is a City in Kenton County, Kentucky with a population of 2,757. There are 1,152 households in the city with an average household size of 2.38 persons. 30.64% of households in Lakeside Park are renters.

Income and Rent Overburden in Lakeside Park

The median gross income for households in Lakeside Park is $61,319 a year, or $5,110 a month. The median rent for the city is $713 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lakeside Park, a household making less than $2,377 a month would be considered overburdened when renting an apartment at or above the median rent. 30.88% of households who rent are overburdened in Lakeside Park.1

Area Median Income In Lakeside Park

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

In Lakeside Park, HUD calculates the Area Median Income for a family of four as $81,300

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 Lakeside Park

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 Lakeside Park

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,100 $19,550 $22,000 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
80% of Median $45,550 $52,050 $58,550 $65,050 $70,300 $75,500 $80,700 $85,900