Russell Cave

1050 Russell Cave Rd, Lexington, Kentucky 40505

Russell Cave (located at 1050 Russell Cave Rd.)  (26 units)
 

Waiting List is Closed
Some units at this property are available through Lexington-Fayette Urban County Housing Authority's Northwest Lexington and Northeast Lexington, General Public Housing Waiting List. Learn about this waiting list here.
Waiting List is Closed
Some units at this property are available through Lexington-Fayette Urban County Housing Authority's Northwest Lexington and Northeast Lexington, Self-Sufficiency Public Housing Waiting List. Learn about this waiting list here.

Russell Cave Details

  • 26 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Public Housing

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.

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

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 Russell Cave.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $17,750 $20,250 $23,030 $27,750 $32,470 $37,190 $41,910 $46,630
50% $29,550 $33,800 $38,000 $42,200 $45,600 $49,000 $52,350 $55,750
80% $47,250 $54,000 $60,750 $67,500 $72,900 $78,300 $83,700 $89,100

Lexington Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Lexington but actual income limits may differ for units at Russell Cave.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,550 $33,800 $38,000 $42,200 $45,600 $49,000 $52,350 $55,750
Low Income (60%) $35,460 $40,560 $45,600 $50,640 $54,720 $58,800 $62,820 $66,900

Russell Cave is managed by Lexington-Fayette Urban County Housing Authority.

Nearby Low Income Apartment Communities

Parkside III Apartments

1060 Cross Keys Rd
Lexington, Kentucky
Call For Rent
1-3 BR

Gleneagles Apartments

2920 Polo Club Blvd.
Lexington, Kentucky
Call For Rent
1-3 BR

Hamburg Senior Residence

1601 Villa Medici Pass
Lexington, Kentucky
1 BR
55+

Trent Senior Village

1393 Trent Boulevard
Lexington, Kentucky
Income Based
1-2 BR