Affordable Housing In Pine Knot
McCreary County, Kentucky

Affordable Housing programs support 56 income based apartments in Pine Knot where households pay rent based on how much they earn.

There are 0 affordable apartments in Pine Knot that offer reduced rents to low-income households.

Waiting Lists in Pine Knot, Kentucky

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

Parkhurst Apartments

26 Meadows Grove Rd
Pine Knot, Kentucky
Rent Assisted

Pine Knot Manor

601 Pine Knot Mnr
Pine Knot, Kentucky
Rent Assisted
62+
Accessible
Elderly Supportive Housing
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Affordable Housing Near Pine Knot

View affordable apartments and waiting lists in cities near Pine Knot

City Apartments
Affordable Housing In Stearns, KY Affordable Housing programs support 1 apartment communities in Stearns.
Affordable Housing In Whitley City, KY Affordable Housing programs support 5 apartment communities in Whitley City.

Public Housing Agencies Serving Pine Knot, 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 McCreary County 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 Pine Knot.

Pine Knot, Kentucky Affordable Housing Data

Income Based Apartments in Pine Knot, Kentucky

Pine Knot features 56 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 Pine Knot, Kentucky

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

Housing Choice Vouchers in Pine Knot, Kentucky

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Pine Knot, Kentucky for a two-bedroom apartment is between $668 and $816.

2023 Pine Knot, 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
Pine Knot, Kentucky Fair Market Rent $538 $577 $742 $926 $999
Pine Knot, Kentucky Payment Standard Range $484 to $592 $519 to $635 $668 to $816 $833 to $1,019 $899 to $1,099

Sourced from federal housing data and AffordableHousingOnline.com research.

Pine Knot, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 56
Total Housing Units with Rental Assistance 56
Percentage of Housing Units Occupied By Renters 25.48%
Average Renter Household Size 2.50
Average Household Size 2.17
Median Household Income $19,132 ±$10,436
Median Rent $391 ±$123
Percentage Of Renters Overburdened 76.88% ± 39.66pp
Total Population 1,810

Population and Household Demographics

Pine Knot is a city in McCreary County, Kentucky with a population of 1,810. There are 679 households in the city with an average household size of 2.17 persons. 25.48% of households in Pine Knot are renters.

Income and Rent Overburden in Pine Knot

The median gross income for households in Pine Knot is $19,132 a year, or $1,594 a month. The median rent for the city is $391 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Pine Knot, a household making less than $1,303 a month would be considered overburdened when renting an apartment at or above the median rent. 76.88% of households who rent are overburdened in Pine Knot.

Area Median Income In Pine Knot

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 Pine Knot, the AMI is calculated from all households within McCreary County.

In Pine Knot, HUD calculates the Area Median Income for a family of four as $38,500

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 Pine Knot

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 Pine Knot

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 Pine Knot AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,590 $18,310 $23,030 $27,750 $32,470 $35,250 $37,650 $40,100
50% AMI Income Limits
Renters earning up to 50% of the Pine Knot AMI may qualify for rental assistance programs that target Very Low Income households.
$21,250 $24,300 $27,350 $30,350 $32,800 $35,250 $37,650 $40,100
80% AMI Income Limits
Renters earning up to 80% of the Pine Knot AMI may qualify for rental assistance programs that target Low Income households.
$34,000 $38,850 $43,700 $48,550 $52,450 $56,350 $60,250 $64,100