Coolavin Apartments

551 W Sixth St, Lexington, KY 40508

Waiting List Forecast: Likely Long or Closed

check_circleVerified for 2019 by Colleen Carter, Ric Gresia

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

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Waitlist Forecast

Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Dave's Thoughts On Coolavin Apartments

This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's 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. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Coolavin Apartments is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Coolavin 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
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 Coolavin Apartments

Does Coolavin Apartments have a waiting list?

Coolavin Apartments probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Coolavin 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 Coolavin Apartments, how many other affordable housing properties (and units) are there in Lexington?

In addition to Coolavin 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.