Affordable Housing In Rowan County

7 Low Income Apartment Communities In Rowan County

Boodry Place Apartments

100 Boodry Pl
Morehead, KY
Call For Rent
1-2 BR
HCV Welcome

Frontier Housing

112 Cady St
Morehead, KY
Call For Rent
2-4 BR

Horizon Village

100 Horizon Way
Morehead, KY
Disabled Supportive Housing
HCV Welcome

Rhp, Inc

520 Oakwood St
Morehead, KY
Disabled Supportive Housing

Pine Ridge Apartments

300 Pine Ridge Dr
Morehead, KY

Morehead Inspiration Center

1111 US Highway 60 W
Morehead, KY
HCV Welcome

Heritage Place

101 Rawcel Hts
Morehead, KY
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Housing Authorities that serve Rowan County

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

Other Housing Authorities located in Rowan County

Housing Authority Programs
Housing Authority of Morehead Public Housing

Guide To Affordable Housing in Rowan County, Kentucky

According to federal housing data and research, there are 7 low income housing apartment communities offering 389 affordable apartments for rent in Rowan County, Kentucky. Rowan County features 304 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 85 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Rowan County.

Rowan County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 389
Total Housing Units with Rental Assistance 304
Percentage of Housing Units Occupied By Renters 37.93%
Average Renter Household Size 2.25
Average Household Size 2.44
Median Household Income $36,860 ±$3,376
Median Rent $620 ±$26
Percentage Of Renters Overburdened 39.6% ± 7.35pp
Total Population 23,608

Population and Household Demographics

Rowan County is a County in Kentucky with a population of 23,608. There are 8,542 households in the county with an average household size of 2.44 persons. 37.93% of households in Rowan County are renters.

Income and Rent Overburden in Rowan County

The median gross income for households in Rowan County is $36,860 a year, or $3,072 a month. The median rent for the county is $620 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rowan County, a household making less than $2,067 a month would be considered overburdened when renting an apartment at or above the median rent. 39.6% of households who rent are overburdened in Rowan County.1

Area Median Income In Rowan 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 Rowan County, HUD calculates the Area Median Income for a family of four as $52,800

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 Rowan 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 Rowan County HUD Rental Assistance in Rowan 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 $28,550 $30,650 $32,750 $34,850
50% of Median $18,500 $21,150 $23,800 $26,400 $28,550 $30,650 $32,750 $34,850
80% of Median $29,600 $33,800 $38,050 $42,250 $45,650 $49,050 $52,400 $55,800
Low Income Housing Tax Credits in Rowan County

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

From 2007 to 2008, 2 low income apartment communities containing 70 rental apartments have been constructed and made affordable to low income persons in Rowan 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 Rowan County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,500 $21,150 $23,800 $26,400 $28,550 $30,650 $32,750 $34,850
60% of Median $22,200 $25,380 $28,560 $31,680 $34,260 $36,780 $39,300 $41,820

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 Rowan County is $28,560 a year, or $2,380 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,380 by 30% to get a maximum rent of $714 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% $463 $496 $595 $687 $766 $845
60% $555 $595 $714 $824 $920 $1,014
Fair Market Rents in Rowan 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
$491 $607 $691 $861 $1,080

Cities In Rowan County

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

City Listings Served By
Morehead 7 The HUD funded Public Housing Agencies that serve Morehead are the Housing Authority of Morehead and Kentucky Housing Corporation.
Lakeview Heights 0 The HUD funded Public Housing Agency that serves Lakeview Heights is the Kentucky Housing Corporation.
Farmers 0 The HUD funded Public Housing Agency that serves Farmers is the Kentucky Housing Corporation.