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Ballard Tower Apartments

635 Ballard St, Lexington, Kentucky 40508

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

Ballard Tower Apartments Details

  • 134 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Elevator
  • Convenient Location

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Lexington HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Lexington but actual income limits may differ for units at Ballard Tower Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $16,700 $19,050 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% $27,800 $31,800 $35,750 $39,700 $42,900 $46,100 $49,250 $52,450
80% $44,450 $50,800 $57,150 $63,500 $68,600 $73,700 $78,750 $83,850

Ballard Tower Apartments is managed by Lexington-Fayette Urban County Housing Authority.

Image of Ballard Tower Apartments
Image of Ballard Tower Apartments

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