Affordable Housing In McCreary County
Kentucky

8 Low Income Apartment Communities In McCreary County

Parkhurst Apartments

26 Meadows Grove Rd
Pine Knot, KY
Subsidized

Greene Pointe Apartments

431 W Highway 700
Whitley City, KY
Subsidized

Pine Knot Manor

601 Pine Knot Mnr
Pine Knot, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Mccreary Apartments

351 Old Bailey Rd
Whitley City, KY
Subsidized

Greenes Landing Apartments : Khc Rhp

Hwy 1651 Mccreary
Whitley City, KY
HCV Welcome

Whitley Park Apartments

434 Old Bailey Rd
Whitley City, KY
Subsidized

The Landing Apartments

12 Old Bailey Rd
Whitley City, KY
Subsidized

Stearns Residence Center

Hume Dr
Stearns, KY
HCV Welcome
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Housing Authorities that serve McCreary County

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

Guide To Affordable Housing in McCreary County, Kentucky

There are 8 low income housing apartment communities offering 193 affordable apartments for rent in McCreary County, Kentucky. McCreary County features 162 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 31 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in McCreary County.

Sourced from federal housing data and AffordableHousingOnline.com research.

McCreary County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 193
Total Housing Units with Rental Assistance 162
Percentage of Housing Units Occupied By Renters 30.64%
Average Renter Household Size 2.80
Average Household Size 2.56
Median Household Income $19,328 ±$2,179
Median Rent $556 ±$37
Percentage Of Renters Overburdened 50.34% ± 9.16pp
Total Population 18,001

Population and Household Demographics

McCreary County is a County in Kentucky with a population of 18,001. There are 6,277 households in the county with an average household size of 2.56 persons. 30.64% of households in McCreary County are renters.

Income and Rent Overburden in McCreary County

The median gross income for households in McCreary County is $19,328 a year, or $1,611 a month. The median rent for the county is $556 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In McCreary County, a household making less than $1,853 a month would be considered overburdened when renting an apartment at or above the median rent. 50.34% of households who rent are overburdened in McCreary County.1

Area Median Income In McCreary County

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.

In McCreary County, HUD calculates the Area Median Income for a family of four as $25,600

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 McCreary County

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 McCreary County HUD Rental Assistance in McCreary County

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 $25,600 $27,650 $29,700 $31,750 $33,800
50% of Median $17,950 $20,500 $23,050 $25,600 $27,650 $29,700 $31,750 $33,800
80% of Median $28,700 $32,800 $36,900 $40,950 $44,250 $47,550 $50,800 $54,100
Low Income Housing Tax Credits in McCreary County

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

From 1992 to 2009, 5 low income apartment communities containing 117 rental apartments have been constructed and made affordable to low income persons in McCreary County 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 McCreary County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $17,950 $20,500 $23,050 $25,600 $27,650 $29,700 $31,750 $33,800
60% of Median $21,540 $24,600 $27,660 $30,720 $33,180 $35,640 $38,100 $40,560

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 McCreary County is $27,660 a year, or $2,305 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,305 by 30% to get a maximum rent of $692 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% $449 $481 $576 $666 $743 $819
60% $539 $577 $692 $799 $891 $983
Fair Market Rents in McCreary County

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$448 $495 $631 $786 $856

Cities In McCreary County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Pine Knot 2 The HUD funded Public Housing Agencies that serve Pine Knot are the Housing Authority of McCreary County and Kentucky Housing Corporation.
Whitley City 5 The HUD funded Public Housing Agencies that serve Whitley City are the Housing Authority of McCreary County and Kentucky Housing Corporation.
Stearns 1 The HUD funded Public Housing Agencies that serve Stearns are the Housing Authority of McCreary County and Kentucky Housing Corporation.