Affordable Housing In Meade County
5 Low Income Apartment Communities In Meade County
Housing Authorities that serve Meade County
|Kentucky Housing Corporation||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Meade County, Kentucky
There are 5 low income housing apartment communities offering 126 affordable apartments for rent in Meade County, Kentucky.
Income Based Apartments in Meade County, Kentucky
Meade County features 76 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 Meade County, Kentucky
There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Meade County.
Housing Choice Vouchers in Meade County, Kentucky
On average, Section 8 Housing Choice vouchers pay Meade County landlords $700 per month towards rent. The average voucher holder contributes $200 towards rent in Meade County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Meade County, Kentucky for a two-bedroom apartment is between $649 and $793.
2020 Meade County, 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|
|Fair Market Rent||$502||$568||$721||$1,040||$1,235|
|Payment Standard Range||$452 to $552||$511 to $625||$649 to $793||$936 to $1,144||$1,112 to $1,359|
Sourced from federal housing data and AffordableHousingOnline.com research.
Meade County, KY Affordable Housing Snapshot
|Total Affordable Apartment Properties||5|
|Total Low Income Apartments||126|
|Total Housing Units with Rental Assistance||76|
|Percentage of Housing Units Occupied By Renters||28.48%|
|Average Renter Household Size||2.81|
|Average Household Size||2.73|
|Median Household Income||$49,884 ±$1,918|
|Median Rent||$772 ±$66|
|Percentage Of Renters Overburdened||41.45% ± 7.07pp|
Population and Household Demographics
Meade County is a county in Kentucky with a population of 29,098. There are 10,574 households in the county with an average household size of 2.73 persons. 28.48% of households in Meade County are renters.
Income and Rent Overburden in Meade County
The median gross income for households in Meade County is $49,884 a year, or $4,157 a month. The median rent for the county is $772 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Meade County, a household making less than $2,573 a month would be considered overburdened when renting an apartment at or above the median rent. 41.45% of households who rent are overburdened in Meade County.
Area Median Income In Meade 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 Meade County, HUD calculates the Area Median Income for a family of four as $66,300
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 Meade 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 HUD Rental Assistance in Meade County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$13,900||$17,240||$21,720||$26,200||$30,680||$35,160||$39,640||$43,600|
|50% of Median||$23,100||$26,400||$29,700||$33,000||$35,650||$38,300||$40,950||$43,600|
|80% of Median||$37,000||$42,250||$47,550||$52,800||$57,050||$61,250||$65,500||$69,700|
Cities In Meade County
Select A City to View its Apartment Communities and Waiting Lists.
|Brandenburg||The HUD funded Public Housing Agency that serves Brandenburg is the Kentucky Housing Corporation.|
|Doe Valley||The HUD funded Public Housing Agency that serves Doe Valley is the Kentucky Housing Corporation.|
|Ekron||The HUD funded Public Housing Agency that serves Ekron is the Kentucky Housing Corporation.|