Affordable Housing In Shelbyville
Shelby County, Kentucky

18 Low Income Apartment Communities In Shelbyville

Maidie Lane

29 Maidie Ln
Shelbyville, KY
HCV Welcome

Shelbyville Townhomes Apartments

119 Nora Ave
Shelbyville, KY

Cherrywood Apartments

Willowwood DR
Shelbyville, KY
HCV Welcome

Parkside Associates, Inc

118 9th St
Shelbyville, KY
HCV Welcome

1635 Juniper Dr

1635 Juniper Dr
Shelbyville, KY
HCV Welcome

Bondurant Heights

1 Cardinal Dr
Shelbyville, KY

Cola Commons

Frankfort Rd
Shelbyville, KY
HCV Welcome

Marian Village Apartments

Short St
Shelbyville, KY
HCV Welcome

Housing Authorities that serve Shelbyville

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

Guide To Affordable Housing in Shelbyville, Kentucky

According to federal housing data and research, there are 18 low income housing apartment communities offering 560 affordable apartments for rent in Shelbyville, Kentucky. Shelbyville features 271 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 289 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Shelbyville.

Shelbyville, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 18
Total Low Income Apartments 560
Total Housing Units with Rental Assistance 271
Percentage of Housing Units Occupied By Renters 50.97%
Average Renter Household Size 2.60
Average Household Size 2.70
Median Household Income $45,398 ±$3,303
Median Rent $776 ±$40
Percentage Of Renters Overburdened 48.93% ± 9.57pp
Total Population 14,782

Population and Household Demographics

Shelbyville is a City in Shelby County, Kentucky with a population of 14,782. There are 5,425 households in the city with an average household size of 2.70 persons. 50.97% of households in Shelbyville are renters.

Income and Rent Overburden in Shelbyville

The median gross income for households in Shelbyville is $45,398 a year, or $3,783 a month. The median rent for the city is $776 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Shelbyville, a household making less than $2,587 a month would be considered overburdened when renting an apartment at or above the median rent. 48.93% of households who rent are overburdened in Shelbyville.1

Area Median Income In Shelbyville

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 Shelbyville, the AMI is calculated from all households within Shelby County.

In Shelbyville, HUD calculates the Area Median Income for a family of four as $76,200

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 Shelbyville

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 Shelbyville HUD Rental Assistance in Shelbyville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,000 $18,300 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,700 $30,500 $34,300 $38,100 $41,150 $44,200 $47,250 $50,300
80% of Median $42,700 $48,800 $54,900 $60,950 $65,850 $70,750 $75,600 $80,500
Low Income Housing Tax Credits in Shelbyville

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

From 1993 to 2011, 10 low income apartment communities containing 241 rental apartments have been constructed and made affordable to low income persons in Shelbyville 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 Shelbyville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,700 $30,500 $34,300 $38,100 $41,150 $44,200 $47,250 $50,300
60% of Median $32,040 $36,600 $41,160 $45,720 $49,380 $53,040 $56,700 $60,360

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 Shelbyville is $41,160 a year, or $3,430 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,430 by 30% to get a maximum rent of $1,029 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% $668 $715 $858 $991 $1,105 $1,219
60% $801 $858 $1,029 $1,189 $1,326 $1,463
Fair Market Rents in Shelbyville

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
$591 $636 $837 $1,135 $1,333