Affordable Housing In Powell County

4 Low Income Apartment Communities In Powell County

Pinecreek Apartments

125 Pinecreek Dr
Stanton, KY

Halls Lane

5 Pinecreek Dr
Stanton, KY

Stanton Place Apartments

555 W Railroad St
Stanton, KY

Brad Lee Court

25 B St
Stanton, KY
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Housing Authorities that serve Powell County

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

Other Housing Authorities located in Powell County

Housing Authority Programs
Housing Authority of Stanton Public Housing

Guide To Affordable Housing in Powell County, Kentucky

There are 4 low income housing apartment communities offering 103 affordable apartments for rent in Powell County, Kentucky. Powell County features 103 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Powell County.

Sourced from federal housing data and research.

Powell County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 103
Total Housing Units with Rental Assistance 103
Percentage of Housing Units Occupied By Renters 30.23%
Average Renter Household Size 2.37
Average Household Size 2.56
Median Household Income $29,736 ±$4,655
Median Rent $543 ±$36
Percentage Of Renters Overburdened 41.29% ± 8.5pp
Total Population 12,447

Population and Household Demographics

Powell County is a County in Kentucky with a population of 12,447. There are 4,767 households in the county with an average household size of 2.56 persons. 30.23% of households in Powell County are renters.

Income and Rent Overburden in Powell County

The median gross income for households in Powell County is $29,736 a year, or $2,478 a month. The median rent for the county is $543 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Powell County, a household making less than $1,810 a month would be considered overburdened when renting an apartment at or above the median rent. 41.29% of households who rent are overburdened in Powell County.1

Area Median Income In Powell 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 Powell County, HUD calculates the Area Median Income for a family of four as $51,600

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 Powell 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 Powell County HUD Rental Assistance in Powell County

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 $25,750 $27,900 $29,950 $32,000 $34,100
50% of Median $18,100 $20,650 $23,250 $25,800 $27,900 $29,950 $32,000 $34,100
80% of Median $28,950 $33,050 $37,200 $41,300 $44,650 $47,950 $51,250 $54,550
Fair Market Rents in Powell 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$458 $530 $644 $817 $874

Cities In Powell County

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

City Listings Served By
Stanton 4 The HUD funded Public Housing Agencies that serve Stanton are the Housing Authority of Stanton and Kentucky Housing Corporation.
Clay City 0 The HUD funded Public Housing Agency that serves Clay City is the Kentucky Housing Corporation.