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Affordable Housing In Spencer County

6 Low Income Apartment Communities In Spencer County

Spencer Village Apartments

3 Crume CT
Taylorsville, Kentucky

Chapel House - Taylorsville

40 Ray Rd
Taylorsville, Kentucky
Elderly Supportive Housing

Hallmark by the Lake

136 Ray Rd
Taylorsville, Kentucky

Taylorsville Place

Mt Washington RD
Taylorsville, Kentucky

Centretown Apts

256 West Main Street
Taylorsville, Kentucky

Taylorsville Townhome Apt

301 Back Alley
Taylorsville, Kentucky
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Housing Authorities that serve Spencer County

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

Guide To Affordable Housing in Spencer County, Kentucky

There are 6 low income housing apartment communities offering 159 affordable apartments for rent in Spencer County, Kentucky.

Income Based Apartments in Spencer County, Kentucky

Spencer County features 87 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 Spencer County, Kentucky

There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spencer County.

Housing Choice Vouchers in Spencer County, Kentucky

On average, Section 8 Housing Choice vouchers pay Spencer County landlords $700 per month towards rent. The average voucher holder contributes $200 towards rent in Spencer County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Spencer County, Kentucky for a two-bedroom apartment is between $785 and $959.

2020 Spencer County, 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
Fair Market Rent $614 $713 $872 $1,174 $1,331
Payment Standard Range $553 to $675 $642 to $784 $785 to $959 $1,057 to $1,291 $1,198 to $1,464

Sourced from federal housing data and research.

Spencer County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 159
Total Housing Units with Rental Assistance 87
Percentage of Housing Units Occupied By Renters 17.11%
Average Renter Household Size 2.48
Average Household Size 2.72
Median Household Income $63,000 ±$3,435
Median Rent $598 ±$102
Percentage Of Renters Overburdened 26.59% ± 8.22pp
Total Population 17,577

Population and Household Demographics

Spencer County is a county in Kentucky with a population of 17,577. There are 6,418 households in the county with an average household size of 2.72 persons. 17.11% of households in Spencer County are renters.

Income and Rent Overburden in Spencer County

The median gross income for households in Spencer County is $63,000 a year, or $5,250 a month. The median rent for the county is $598 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Spencer County, a household making less than $1,993 a month would be considered overburdened when renting an apartment at or above the median rent. 26.59% of households who rent are overburdened in Spencer County.

Area Median Income In Spencer 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 Spencer County, HUD calculates the Area Median Income for a family of four as $77,500

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 Spencer 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 HUD Rental Assistance in Spencer County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,300 $18,600 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $27,150 $31,000 $34,900 $38,750 $41,850 $44,950 $48,050 $51,150
80% of Median $43,400 $49,600 $55,800 $62,000 $67,000 $71,950 $76,900 $81,850

Cities In Spencer County

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

City Served By
Elk Creek The HUD funded Public Housing Agency that serves Elk Creek is the Kentucky Housing Corporation.
Taylorsville The HUD funded Public Housing Agency that serves Taylorsville is the Kentucky Housing Corporation.