Ballard Tower Apartments

635 Ballard St, Lexington, KY 40508

Waiting List Forecast: Closed

check_circleVerified for 2019 by Ayat Elkarib
Rent Beds Baths SqFt
Call for Rents Floorplan Info Upon Request - -
check_circle  Senior (62+)
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)
check_circle  Project-Based Rental Assistance

Waitlist Information

Northwest Lexington and Northeast Lexington, General Waiting List

Go to the public housing authority page for this waiting list >>

Ballard Tower Apartments have 134 units that are for persons 62 and older.

Dave's Thoughts On Ballard Tower Apartments

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. This property does participate in the Section 8 Project-Based Rental Assistance program and your rent would be subsidized and based on your income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since Ballard Tower Apartments has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, since this property has a Section 8 Project-Based Rental Assistance contract, your Section 8 voucher can not be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you need help paying your rent and are willing to wait for a longer waiting list.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Ballard Tower Apartments Amenities

  • Elevator
  • Convenient Location

Income Qualification for Ballard Tower Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people 5 people 6 people 7 people 8 people
30% AMI for PBRA Units $18,800 / year $21,450 / year $24,860 / year $30,000 / year $35,140 / year $40,280 / year $45,420 / year $50,560 / year
50% AMI for LIHTC Units $31,300 / year $35,750 / year $40,200 / year $44,650 / year $48,250 / year $51,800 / year $55,400 / year $58,950 / year
50% AMI for PBRA Units $31,300 / year $35,750 / year $40,200 / year $44,650 / year $48,250 / year $51,800 / year $55,400 / year $58,950 / year
60% AMI for LIHTC Units $37,560 / year $42,900 / year $48,240 / year $53,580 / year $57,900 / year $62,160 / year $66,480 / year $70,740 / year
80% AMI for PBRA Units $50,050 / year $57,200 / year $64,350 / year $71,450 / year $77,200 / year $82,900 / year $88,600 / year $94,350 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Ballard Tower Apartments

Does Ballard Tower Apartments have a waiting list?

Ballard Tower Apartments has a waiting list. See above for waiting list details.

Are rents subsidized at Ballard Tower Apartments?

We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.

In addition to Ballard Tower Apartments, how many other affordable housing properties (and units) are there in Lexington?

In addition to Ballard Tower Apartments, we list 176 other affordable properties in Lexington. Learn about these properties here. Our data research shows that there are a total of 5333 affordable units in Lexington.

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Trent Senior Village

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Derbytowne Apartments, Inc

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Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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