Affordable Housing In Martin
Floyd County, Kentucky

2 Low Income Apartment Communities In Martin

Grigsby Heights

120 Raymond Griffith Dr
Martin, Kentucky

Grigsby Heights II

184 Raymond Griffith Dr
Martin, Kentucky
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Section 8 Vouchers, Apartments, and Waiting Lists in Martin, Kentucky

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Martin, Kentucky

Housing Authority Programs
Housing Authority of Floyd County Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Martin, Kentucky

There are 2 low income housing apartment communities offering 124 affordable apartments for rent in Martin, Kentucky.

Income Based Apartments in Martin, Kentucky

Martin features 124 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 Martin, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Martin.

Housing Choice Vouchers in Martin, Kentucky

On average, Section 8 Housing Choice vouchers pay Martin landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Martin.

The maximum amount a voucher would pay on behalf of a low-income tenant in Martin, Kentucky for a two-bedroom apartment is between $684 and $836.

2023 Martin, 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
Martin, Kentucky Fair Market Rent $551 $577 $760 $925 $1,026
Martin, Kentucky Payment Standard Range $496 to $606 $519 to $635 $684 to $836 $833 to $1,018 $923 to $1,129

Sourced from federal housing data and research.

Martin, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 124
Total Housing Units with Rental Assistance 124
Percentage of Housing Units Occupied By Renters 51.27%
Average Renter Household Size 2.48
Average Household Size 2.27
Median Household Income $18,333 ±$3,567
Median Rent $354 ±$169
Percentage Of Renters Overburdened 39.13% ± 24.34pp
Total Population 713

Population and Household Demographics

Martin is a city in Floyd County, Kentucky with a population of 713. There are 314 households in the city with an average household size of 2.27 persons. 51.27% of households in Martin are renters.

Income and Rent Overburden in Martin

The median gross income for households in Martin is $18,333 a year, or $1,528 a month. The median rent for the city is $354 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Martin, a household making less than $1,180 a month would be considered overburdened when renting an apartment at or above the median rent. 39.13% of households who rent are overburdened in Martin.

Area Median Income In Martin

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 Martin, the AMI is calculated from all households within Floyd County.

In Martin, HUD calculates the Area Median Income for a family of four as $46,700

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 Martin

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 Martin

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 Martin AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,590 $18,310 $23,030 $27,750 $32,470 $35,250 $37,650 $40,100
50% AMI Income Limits
Renters earning up to 50% of the Martin AMI may qualify for rental assistance programs that target Very Low Income households.
$21,250 $24,300 $27,350 $30,350 $32,800 $35,250 $37,650 $40,100
80% AMI Income Limits
Renters earning up to 80% of the Martin AMI may qualify for rental assistance programs that target Low Income households.
$34,000 $38,850 $43,700 $48,550 $52,450 $56,350 $60,250 $64,100