Affordable Housing In Morgantown
Butler County, Kentucky

10 Low Income Apartment Communities In Morgantown

Oak Hill Apartments

155 Oak Hill Dr
Morgantown, KY

Oak Valley Apartments

250 Oak Valley Dr
Morgantown, KY

Sunmark Apartments

500 Boat Factory Rd
Morgantown, KY

Butler Properties Ltd

222 S Tyler St
Morgantown, KY

Green Acres Apartments

204 N Warren St
Morgantown, KY

Sunmark Apartments

16 Brittney Way
Morgantown, KY
HCV Welcome

Huff - Ingram

101 Kent Manor Dr
Morgantown, KY

Jenny Lynn Apartments

S Teddy Ave
Morgantown, KY
HCV Welcome

Jenny Lynn Prop Ltd

1001 Old Hartford Rd
Morgantown, KY

Butler Manor

S Tyler St
Morgantown, KY
HCV Welcome
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Housing Authorities that serve Morgantown

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

Guide To Affordable Housing in Morgantown, Kentucky

According to federal housing data and research, there are 10 low income housing apartment communities offering 412 affordable apartments for rent in Morgantown, Kentucky. Morgantown features 260 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 152 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Morgantown.

Morgantown, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 412
Total Housing Units with Rental Assistance 260
Percentage of Housing Units Occupied By Renters 62.3%
Average Renter Household Size 2.44
Average Household Size 2.28
Median Household Income $14,254 ±$3,499
Median Rent $455 ±$57
Percentage Of Renters Overburdened 46.93% ± 12.94pp
Total Population 2,681

Population and Household Demographics

Morgantown is a City in Butler County, Kentucky with a population of 2,681. There are 1,098 households in the city with an average household size of 2.28 persons. 62.3% of households in Morgantown are renters.

Income and Rent Overburden in Morgantown

The median gross income for households in Morgantown is $14,254 a year, or $1,188 a month. The median rent for the city is $455 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Morgantown, a household making less than $1,517 a month would be considered overburdened when renting an apartment at or above the median rent. 46.93% of households who rent are overburdened in Morgantown.1

Area Median Income In Morgantown

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 Morgantown, the AMI is calculated from all households within Butler County.

In Morgantown, HUD calculates the Area Median Income for a family of four as $50,200

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 Morgantown

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 Morgantown HUD Rental Assistance in Morgantown

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 Morgantown

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

From 1991 to 2011, 3 low income apartment communities containing 88 rental apartments have been constructed and made affordable to low income persons in Morgantown 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 Morgantown

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 Morgantown 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 Morgantown

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
$476 $479 $631 $875 $926