Affordable Housing In Sharpsburg
Bath County, Kentucky

1 Low Income Apartment Communities In Sharpsburg

Beaver Creek Apartments

270 Ramey Rd
Sharpsburg, KY
62+
Accessible
Elderly Supportive Housing
Subsidized
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Housing Authorities that serve Sharpsburg

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

Guide To Affordable Housing in Sharpsburg, Kentucky

There are 1 low income housing apartment communities offering 48 affordable apartments for rent in Sharpsburg, Kentucky. Sharpsburg features 48 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 Sharpsburg.

Sourced from federal housing data and AffordableHousingOnline.com research.

Sharpsburg, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 48
Total Housing Units with Rental Assistance 48
Percentage of Housing Units Occupied By Renters 39.02%
Average Renter Household Size 1.88
Average Household Size 2.47
Median Household Income $25,000 ±$9,025
Median Rent $0 ±$0
Percentage Of Renters Overburdened 42.19% ± 27.59pp
Total Population 405

Population and Household Demographics

Sharpsburg is a City in Bath County, Kentucky with a population of 405. There are 164 households in the city with an average household size of 2.47 persons. 39.02% of households in Sharpsburg are renters.

Income and Rent Overburden in Sharpsburg

The median gross income for households in Sharpsburg is $25,000 a year, or $2,083 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sharpsburg, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 42.19% of households who rent are overburdened in Sharpsburg.1

Area Median Income In Sharpsburg

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 Sharpsburg, the AMI is calculated from all households within Bath County.

In Sharpsburg, HUD calculates the Area Median Income for a family of four as $42,100

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 Sharpsburg

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 Sharpsburg HUD Rental Assistance in Sharpsburg

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
Fair Market Rents in Sharpsburg

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
$469 $501 $660 $822 $933