Affordable Housing In Maysville
Mason County, Kentucky

6 Low Income Apartment Communities In Maysville

Stoneleigh Apartments

121 W 3rd St
Maysville, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

St Paul Trinity Community

665 Kenton Station Rd
Maysville, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Heritage Square Apartments II

400 Lincoln Dr
Maysville, KY

Maysville High School

215 Limestone St
Maysville, KY
HCV Welcome

Beechwood Manor

300 Wood St
Maysville, KY

Buffalo Trace Housing Corp

Limestone St
Maysville, KY
HCV Welcome
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There are 6 low income housing apartment complexes which contain 308 affordable apartments for rent in Maysville. Many of these rental apartments are income based housing with 203 apartments that set rent based on your income. In Maysville, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 105 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Maysville

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

Guide To Affordable Housing in Maysville, Kentucky

Maysville, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 308
Total Rent Assisted Apartments 203
Percentage of Housing Units Occupied By Renters 44.51%
Average Renter Household Size 2.34
Total Population 8,924
Housing Units 3,718
Average Household Size 2.32
Median Household Income $29,773 ±$4,646
Median Rent $524 ±$43
Percentage Of Renters Overburdened 34.8% ± 7.86pp

Population and Household Demographics

Maysville is a City in Mason County, Kentucky with a population of 8,924. There are 3,718 households in the city with an average household size of 2.32 persons. 44.51% of households in Maysville are renters.

Income and Rent Overburden in Maysville

The median gross income for households in Maysville is $29,773 a year, or $2,481 a month. The median rent for the city is $524 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Maysville, a household making less than $1,747 a month would be considered overburdened when renting an apartment at or above the median rent. 34.8% of households who rent are overburdened in Maysville.1

Area Median Income In Maysville

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 Maysville, the AMI is calculated from all households within Mason County.

In Maysville, HUD calculates the Area Median Income for a family of four as $53,500

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 Maysville

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 Maysville HUD Rental Assistance in Maysville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $28,900 $31,050 $33,200 $35,350
50% of Median $18,750 $21,400 $24,100 $26,750 $28,900 $31,050 $33,200 $35,350
80% of Median $30,000 $34,250 $38,550 $42,800 $46,250 $49,650 $53,100 $56,500
Low Income Housing Tax Credits in Maysville

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1994 to 1998, 2 low income apartment communities containing 53 rental apartments have been constructed and made affordable to low income persons in Maysville by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Maysville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,750 $21,400 $24,100 $26,750 $28,900 $31,050 $33,200 $35,350
60% of Median $22,500 $25,680 $28,920 $32,100 $34,680 $37,260 $39,840 $42,420

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Maysville is $28,920 a year, or $2,410 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,410 by 30% to get a maximum rent of $723 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $469 $502 $603 $696 $776 $857
60% $563 $602 $723 $835 $932 $1,028
Fair Market Rents in Maysville

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$450 $502 $628 $812 $857