Affordable Housing In Mercer County
Kentucky

2 Low Income Apartment Communities In Mercer County

Belmont Court Apartments

633 Belmont Street
Harrodsburg, KY
Call For Rent
1-3 BR
HCV Welcome

Ky062001

517 W Office St
Harrodsburg, KY
  • «
  • 1
  • »

There are 2 low income housing apartment complexes which contain 225 affordable apartments for rent in Mercer County. Many of these rental apartments are income based housing with 162 apartments that set rent based on your income. In Mercer County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 63 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Mercer County

Housing Authority Programs
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Mercer County

Housing Authority Programs
Housing Authority of Harrodsburg Public Housing

Guide To Affordable Housing in Mercer County, Kentucky

Mercer County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 225
Total Rent Assisted Apartments 162
Percentage of Housing Units Occupied By Renters 28.65%
Average Renter Household Size 2.45
Total Population 21,342
Housing Units 8,824
Average Household Size 2.40
Median Household Income $42,083 ±$4,083
Median Rent $580 ±$21
Percentage Of Renters Overburdened 45.89% ± 7.23pp

Population and Household Demographics

Mercer County is a County in Kentucky with a population of 21,342. There are 8,824 households in the county with an average household size of 2.40 persons. 28.65% of households in Mercer County are renters.

Income and Rent Overburden in Mercer County

The median gross income for households in Mercer County is $42,083 a year, or $3,507 a month. The median rent for the county is $580 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mercer County, a household making less than $1,933 a month would be considered overburdened when renting an apartment at or above the median rent. 45.89% of households who rent are overburdened in Mercer County.1

Area Median Income In Mercer 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 Mercer County, HUD calculates the Area Median Income for a family of four as $63,200

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 Mercer 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 Mercer County HUD Rental Assistance in Mercer County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,300 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $41,750
50% of Median $22,150 $25,300 $28,450 $31,600 $34,150 $36,700 $39,200 $41,750
80% of Median $35,400 $40,450 $45,500 $50,550 $54,600 $58,650 $62,700 $66,750

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 Mercer County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $22,150 $25,300 $28,450 $31,600 $34,150 $36,700 $39,200 $41,750
60% of Median $26,580 $30,360 $34,140 $37,920 $40,980 $44,040 $47,040 $50,100

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 Mercer County is $34,140 a year, or $2,845 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,845 by 30% to get a maximum rent of $854 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% $554 $593 $711 $822 $918 $1,012
60% $665 $712 $854 $986 $1,101 $1,214
Fair Market Rents in Mercer 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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$465 $491 $649 $867 $1,140

Cities In Mercer County

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

City Listings Served By
Harrodsburg 2 The HUD funded Public Housing Agencies that serve Harrodsburg are the Housing Authority of Harrodsburg and Kentucky Housing Corporation.
Burgin 0 The HUD funded Public Housing Agency that serves Burgin is the Kentucky Housing Corporation.
Salvisa 0 The HUD funded Public Housing Agency that serves Salvisa is the Kentucky Housing Corporation.