Russell Cave

1050 Russell Cave Rd, Lexington, KY 40505

Waiting List Forecast: Closed

check_circleVerified for 2022 by Lorena Bentley
Rent Beds Baths SqFt
Call for Rents Floorplan Info Upon Request - -
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)

Waitlist Information

Northwest Lexington Properties, 1, 2, 3 and 4-Bedroom Waiting List

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

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

Dave's Thoughts On Russell Cave

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC programonly 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. 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 Russell Cave has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. Records show this property may have been recently associated with the Public Housing program, which means it could have a new RAD Section 8 Project-Based Rental Assistance contract. LIHTC properties tend to have shorter waiting lists however, since this property may have a project-based subsidy, the waiting list may be much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, if this property has a RAD Section 8 Project-Based Rental Assistance contract, your Section 8 voucher cannot 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 possibly longer waiting list if this is indeed a RAD property.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Russell Cave

*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 Russell Cave

Does Russell Cave have a waiting list?

Russell Cave has a waiting list. See above for waiting list details.

Are rents subsidized at Russell Cave?

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

In addition to Russell Cave, 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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Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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