Affordable Housing In Park City
Barren County, Kentucky

Housing Authorities that serve Park City

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

Guide To Affordable Housing in Park City, Kentucky

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Park City, Kentucky.

Income Based Apartments in Park City, Kentucky

Park City features 0 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 Park City, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Park City.

Housing Choice Vouchers in Park City, Kentucky

On average, Section 8 Housing Choice vouchers pay Park City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Park City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Park City, Kentucky for a two-bedroom apartment is between $596 and $728.

2020 Park City, 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
Fair Market Rent $470 $540 $662 $883 $897
Payment Standard Range $423 to $517 $486 to $594 $596 to $728 $795 to $971 $807 to $987

Sourced from federal housing data and AffordableHousingOnline.com research.

Park City, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 31.52%
Average Renter Household Size 2.66
Average Household Size 2.58
Median Household Income $40,000 ±$7,082
Median Rent $643 ±$100
Percentage Of Renters Overburdened 46.55% ± 35.03pp
Total Population 475

Population and Household Demographics

Park City is a City in Barren County, Kentucky with a population of 475. There are 184 households in the city with an average household size of 2.58 persons. 31.52% of households in Park City are renters.

Income and Rent Overburden in Park City

The median gross income for households in Park City is $40,000 a year, or $3,333 a month. The median rent for the city is $643 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Park City, a household making less than $2,143 a month would be considered overburdened when renting an apartment at or above the median rent. 46.55% of households who rent are overburdened in Park City.1

Area Median Income In Park City

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 Park City, the AMI is calculated from all households within Barren County.

In Park City, HUD calculates the Area Median Income for a family of four as $50,800

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 Park City

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 Park City

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