Affordable Housing In Oldham County
Kentucky

10 Low Income Apartment Communities In Oldham County

Chilewich Apartments

1908 Jericho Rd
La Grange, KY
$650-731
2-3 BR
HCV Welcome

Cedar Lake - Cherrywood

1003 Richwood Way
La Grange, KY
Accessible
Disabled Supportive Housing
Subsidized

Yorkcliffe Apartments

515 N 1st St
La Grange, KY

Shepherd of the Valley Lutheran Community

1201 Woodcreek Dr
La Grange, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Cedar Lake Lesprit

3021 Fallen Wood Ln
La Grange, KY
Accessible
Disabled Supportive Housing
Subsidized

Graham Village

8809 W Highway 22
Crestwood, KY
HCV Welcome

Stoneridge II

150 W Lee St
La Grange, KY
HCV Welcome

Graham Village, Phase I

7502 Foxtail Pl
Crestwood, KY
HCV Welcome

Stoneridge I ( Madison )

Lee & Madison Sts
La Grange, KY
HCV Welcome

Harvesting Hope II

Celebration Way
Crestwood, KY
HCV Welcome
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There are 10 low income housing apartment complexes which contain 231 affordable apartments for rent in Oldham County. Many of these rental apartments are income based housing with 65 apartments that set rent based on your income. In Oldham County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 166 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Oldham County

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

Guide To Affordable Housing in Oldham County, Kentucky

Oldham County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 231
Total Rent Assisted Apartments 65
Percentage of Housing Units Occupied By Renters 14.18%
Average Renter Household Size 2.69
Total Population 63,037
Housing Units 19,706
Average Household Size 2.98
Median Household Income $85,452 ±$2,772
Median Rent $833 ±$53
Percentage Of Renters Overburdened 39.76% ± 5.7pp

Population and Household Demographics

Oldham County is a County in Kentucky with a population of 63,037. There are 19,706 households in the county with an average household size of 2.98 persons. 14.18% of households in Oldham County are renters.

Income and Rent Overburden in Oldham County

The median gross income for households in Oldham County is $85,452 a year, or $7,121 a month. The median rent for the county is $833 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Oldham County, a household making less than $2,777 a month would be considered overburdened when renting an apartment at or above the median rent. 39.76% of households who rent are overburdened in Oldham County.1

Area Median Income In Oldham 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 Oldham County, HUD calculates the Area Median Income for a family of four as $76,400

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 Oldham 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 Oldham County HUD Rental Assistance in Oldham County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
80% of Median $42,800 $48,900 $55,000 $61,100 $66,000 $70,900 $75,800 $80,700
Low Income Housing Tax Credits in Oldham County

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

From 1996 to 2008, 6 low income apartment communities containing 120 rental apartments have been constructed and made affordable to low income persons in Oldham 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 Oldham County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
60% of Median $32,100 $36,720 $41,280 $45,840 $49,560 $53,220 $56,880 $60,540

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 Oldham County is $41,280 a year, or $3,440 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,440 by 30% to get a maximum rent of $1,032 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% $669 $717 $860 $994 $1,109 $1,223
60% $803 $860 $1,032 $1,193 $1,331 $1,468
Fair Market Rents in Oldham 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
$602 $688 $853 $1,158 $1,307

Cities In Oldham County

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

City Listings Served By
La Grange 7 The HUD funded Public Housing Agency that serves La Grange is the Kentucky Housing Corporation.
Crestwood 3 The HUD funded Public Housing Agency that serves Crestwood is the Kentucky Housing Corporation.
Buckner 0 The HUD funded Public Housing Agency that serves Buckner is the Kentucky Housing Corporation.
Pewee Valley 0 The HUD funded Public Housing Agency that serves Pewee Valley is the Kentucky Housing Corporation.
River Bluff 0 The HUD funded Public Housing Agency that serves River Bluff is the Kentucky Housing Corporation.
Westport 0 The HUD funded Public Housing Agency that serves Westport is the Kentucky Housing Corporation.
Goshen 0 The HUD funded Public Housing Agency that serves Goshen is the Kentucky Housing Corporation.
Orchard Grass Hills 0 The HUD funded Public Housing Agency that serves Orchard Grass Hills is the Kentucky Housing Corporation.