Affordable Housing In Owensboro
Daviess County, Kentucky

19 Low Income Apartment Communities In Owensboro

Collyns Estates Apartments

3420 Professional Park Dr
Owensboro, KY
Call For Rent
1-2 BR
HCV Welcome

Sisson Manor

2900 Dixiana Court
Owensboro, KY
Call For Rent
1 BR
Subsidized

Owensboro Historic Residences

301 E 9th St
Owensboro, KY
Call For Rent
1-2 BR
Accessible
HCV Welcome

Roosevelt House II Apartments

530 Yale Pl
Owensboro, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Roosevelt House I

2920 Yale Pl
Owensboro, KY
Subsidized

Lee Manor Apartments

1651 W 4th St
Owensboro, KY
Subsidized

Park Regency

5058 Back Square Dr
Owensboro, KY
Subsidized

Lincolnshire North Apartments

1001 Pennbrooke Ave
Owensboro, KY
Subsidized

Independent Living I - Owensboro

1508 Frederica St
Owensboro, KY
62+
Accessible
Elderly Supportive Housing
Subsidized

Old Hartford Hills Apartments

1309 Burlew Blvd
Owensboro, KY
Subsidized

Housing Authorities that serve Owensboro

Housing Authority Programs
Housing Authority of Owensboro Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Owensboro, Kentucky

There are 19 low income housing apartment communities offering 1,777 affordable apartments for rent in Owensboro, Kentucky. Owensboro features 1,483 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 294 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Owensboro.

Sourced from federal housing data and AffordableHousingOnline.com research.

Owensboro, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 19
Total Low Income Apartments 1,777
Total Housing Units with Rental Assistance 1,483
Percentage of Housing Units Occupied By Renters 42.02%
Average Renter Household Size 2.28
Average Household Size 2.35
Median Household Income $37,279 ±$1,435
Median Rent $637 ±$15
Percentage Of Renters Overburdened 45.76% ± 4.38pp
Total Population 58,350

Population and Household Demographics

Owensboro is a City in Daviess County, Kentucky with a population of 58,350. There are 23,995 households in the city with an average household size of 2.35 persons. 42.02% of households in Owensboro are renters.

Income and Rent Overburden in Owensboro

The median gross income for households in Owensboro is $37,279 a year, or $3,107 a month. The median rent for the city is $637 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Owensboro, a household making less than $2,123 a month would be considered overburdened when renting an apartment at or above the median rent. 45.76% of households who rent are overburdened in Owensboro.1

Area Median Income In Owensboro

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 Owensboro, the AMI is calculated from all households within Daviess County.

In Owensboro, HUD calculates the Area Median Income for a family of four as $70,400

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 Owensboro

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 Owensboro HUD Rental Assistance in Owensboro

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,400 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,000 $27,400 $30,850 $34,250 $37,000 $39,750 $42,500 $45,250
80% of Median $38,400 $43,850 $49,350 $54,800 $59,200 $63,600 $68,000 $72,350
Low Income Housing Tax Credits in Owensboro

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

From 2001 to 2011, 6 low income apartment communities containing 288 rental apartments have been constructed and made affordable to low income persons in Owensboro 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 Owensboro

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,000 $27,400 $30,850 $34,250 $37,000 $39,750 $42,500 $45,250
60% of Median $28,800 $32,880 $37,020 $41,100 $44,400 $47,700 $51,000 $54,300

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 Owensboro is $37,020 a year, or $3,085 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,085 by 30% to get a maximum rent of $926 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% $600 $643 $771 $891 $994 $1,097
60% $720 $771 $926 $1,069 $1,193 $1,316
Fair Market Rents in Owensboro

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
$565 $605 $787 $1,027 $1,107