Homownership

461 Ash 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	-	-

Waitlist Forecast

Since this property may have HUD-funded Public Housing with subsidies that help pay tenants' rent, the property is likely to have a long waiting list. Housing authorities often open these waiting lists periodically. Important: Housing authorities don't always open housing waiting lists at a property-specific level or even allow applicants to choose at which property they can live. Many times, the housing authority will assign an applicant to a property without giving the applicant a choice.

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 Homownership

This property is funded through HUD’s Public Housing program. These properties are typically owned and managed by a Public Housing Authority. These properties tend to be much older, as no new public housing has been built in many years. Since the Federal budget has historically (and notoriously) underfunded public housing renovations for decades, these properties tend to have higher vacancies due to uninhabitable units or liveable units that are in poor condition. In addition, since all public housing properties offer rent subsidies, low-income residents only pay rent based on their incomes. For that reason, these properties tend to have longer waiting lists. Check our public housing waiting list data for more information. Since Homownership participates in the Public Housing program and has a property based subsidy, if you have a Section 8 voucher, you would have to give up your voucher to move in.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Homownership

*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 Homownership

Does Homownership have a waiting list?

Homownership probably has a waiting list. Since our research has shown there are some public housing units at this property, the waiting list would be for those units. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Homownership?

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 Homownership, how many other affordable housing properties (and units) are there in Lexington?

In addition to Homownership, 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.