Affordable Housing In Louisa
Lawrence County, Kentucky

6 Low Income Apartment Communities In Louisa

Housing Authorities that serve Louisa

Housing Authority	Programs
Housing Authority of Lawrence County	Section 8 Housing Choice Voucher (HCV); Public Housing
Kentucky Housing Corporation	Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Louisa, Kentucky

There are 6 low income housing apartment communities offering 151 affordable apartments for rent in Louisa, Kentucky.

Income Based Apartments in Louisa, Kentucky

Louisa features 131 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Louisa, Kentucky

There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Louisa.

Housing Choice Vouchers in Louisa, Kentucky

On average, Section 8 Housing Choice vouchers pay Louisa landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Louisa.

The maximum amount a voucher would pay on behalf of a low-income tenant in Louisa, Kentucky for a two-bedroom apartment is between $597 and $729.

2021 Louisa, Kentucky Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

	Studio	One BR	Two BR	Three BR	Four BR
Louisa, Kentucky Fair Market Rent	$475	$503	$663	$898	$901
Louisa, Kentucky Payment Standard Range	$428 to $523	$453 to $553	$597 to $729	$808 to $988	$811 to $991

Sourced from federal housing data and AffordableHousingOnline.com research.

Louisa, KY Affordable Housing Snapshot

Total Affordable Apartment Properties	6
Total Low Income Apartments	151
Total Housing Units with Rental Assistance	131
Percentage of Housing Units Occupied By Renters	57.08%
Average Renter Household Size	2.54
Average Household Size	2.65
Median Household Income	$22,667 ±$6,666
Median Rent	$475 ±$51
Percentage Of Renters Overburdened	46.49% ± 11.71pp
Total Population	2,961

Population and Household Demographics

Louisa is a city in Lawrence County, Kentucky with a population of 2,961. There are 1,074 households in the city with an average household size of 2.65 persons. 57.08% of households in Louisa are renters.

Income and Rent Overburden in Louisa

The median gross income for households in Louisa is $22,667 a year, or $1,889 a month. The median rent for the city is $475 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Louisa, a household making less than $1,583 a month would be considered overburdened when renting an apartment at or above the median rent. 46.49% of households who rent are overburdened in Louisa.

Area Median Income In Louisa

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Louisa, the AMI is calculated from all households within Lawrence County.

In Louisa, HUD calculates the Area Median Income for a family of four as $43,600

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Louisa

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Louisa

	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% AMI Income Limits Renters earning up to 30% of the Louisa AMI may qualify for rental assistance programs that target Extremely Low Income households.	$12,880	$17,420	$21,960	$26,500	$29,350	$31,500	$33,700	$35,850
50% AMI Income Limits Renters earning up to 50% of the Louisa AMI may qualify for rental assistance programs that target Very Low Income households.	$19,050	$21,750	$24,450	$27,150	$29,350	$31,500	$33,700	$35,850
80% AMI Income Limits Renters earning up to 80% of the Louisa AMI may qualify for rental assistance programs that target Low Income households.	$30,450	$34,800	$39,150	$43,450	$46,950	$50,450	$53,900	$57,400