Affordable Housing In Mount Sterling
Montgomery County, Kentucky

Affordable Housing programs support 303 income based apartments in Mount Sterling where households pay rent based on how much they earn.

There are 120 affordable apartments in Mount Sterling that offer reduced rents to low-income households.

Waiting Lists in Mount Sterling, Kentucky

There are no open Section 8 Housing Choice Voucher waiting lists in Mount Sterling. Go to the Kentucky Section 8 Waiting Lists page for openings near Mount Sterling.

Main Cross Apartments

8 E Main St
Mount Sterling, Kentucky
Call For Rent
1-2 BR
Affordable

Montgomery Square Apartments

1376 Indian Mound Dr
Mount Sterling, Kentucky
Rent Assisted

Wood Hill Apartments

801 Hawkins Dr
Mount Sterling, Kentucky
Accessible
62+

Sterling Oaks

118 Ronameki Dr
Mount Sterling, Kentucky
Rent Assisted
Accessible
Accessible
Disabled Supportive Housing

Whitledge Hgts Add

306 W Main St
Mount Sterling, Kentucky

The Redmond Building

41 N Maysville St
Mount Sterling, Kentucky
Affordable

Kentucky

Main And Maysville Sts
Mount Sterling, Kentucky
Affordable
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Affordable Housing Near Mount Sterling

View affordable apartments and waiting lists in cities near Mount Sterling

City Apartments
Affordable Housing In Jeffersonville, KY Affordable Housing programs support 1 apartment communities in Jeffersonville.

Public Housing Agencies Serving Mount Sterling, Kentucky

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Waiting lists for project-based assistance, like the Public Housing program, are open:

Housing Authority Programs
Housing Authority of Mount Sterling Public Housing
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)
Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Mount Sterling.

Mount Sterling, Kentucky Affordable Housing Data

Income Based Apartments in Mount Sterling, Kentucky

Mount Sterling features 303 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 Mount Sterling, Kentucky

There are 120 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mount Sterling.

Housing Choice Vouchers in Mount Sterling, Kentucky

On average, Section 8 Housing Choice vouchers pay Mount Sterling landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Mount Sterling.

The maximum amount a voucher would pay on behalf of a low-income tenant in Mount Sterling, Kentucky for a two-bedroom apartment is between $672 and $822.

2023 Mount Sterling, 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
Mount Sterling, Kentucky Fair Market Rent $542 $619 $747 $1,062 $1,100
Mount Sterling, Kentucky Payment Standard Range $488 to $596 $557 to $681 $672 to $822 $956 to $1,168 $990 to $1,210

Sourced from federal housing data and AffordableHousingOnline.com research.

Mount Sterling, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 423
Total Housing Units with Rental Assistance 303
Percentage of Housing Units Occupied By Renters 50.96%
Average Renter Household Size 2.39
Average Household Size 2.36
Median Household Income $40,754 ±$4,001
Median Rent $622 ±$45
Percentage Of Renters Overburdened 32.82% ± 10.21pp
Total Population 7,078

Population and Household Demographics

Mount Sterling is a city in Montgomery County, Kentucky with a population of 7,078. There are 2,918 households in the city with an average household size of 2.36 persons. 50.96% of households in Mount Sterling are renters.

Income and Rent Overburden in Mount Sterling

The median gross income for households in Mount Sterling is $40,754 a year, or $3,396 a month. The median rent for the city is $622 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mount Sterling, a household making less than $2,073 a month would be considered overburdened when renting an apartment at or above the median rent. 32.82% of households who rent are overburdened in Mount Sterling.

Area Median Income In Mount Sterling

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 Mount Sterling, the AMI is calculated from all households within Montgomery County.

In Mount Sterling, HUD calculates the Area Median Income for a family of four as $64,800

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 Mount Sterling

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 Mount Sterling

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Mount Sterling AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,590 $18,310 $23,030 $27,750 $32,470 $35,700 $38,150 $40,600
50% AMI Income Limits
Renters earning up to 50% of the Mount Sterling AMI may qualify for rental assistance programs that target Very Low Income households.
$21,550 $24,600 $27,700 $30,750 $33,250 $35,700 $38,150 $40,600
80% AMI Income Limits
Renters earning up to 80% of the Mount Sterling AMI may qualify for rental assistance programs that target Low Income households.
$34,450 $39,400 $44,300 $49,200 $53,150 $57,100 $61,050 $64,950