Affordable Housing In Spencer County
4 Low Income Apartment Communities In Spencer County
Housing Authorities that serve Spencer County
|Kentucky Housing Corporation||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Spencer County, Kentucky
There are 4 low income housing apartment communities offering 125 affordable apartments for rent in Spencer County, Kentucky.
Income Based Apartments in Spencer County, Kentucky
Spencer County features 53 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.
Sourced from federal housing data and AffordableHousingOnline.com research.
Spencer County, KY Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||125|
|Total Housing Units with Rental Assistance||53|
|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|
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.1
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 $76,400
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||$16,050||$18,350||$21,330||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$26,750||$30,600||$34,400||$38,200||$41,300||$44,350||$47,400||$50,450|
|80% of Median||$42,800||$48,900||$55,000||$61,100||$66,000||$70,900||$75,800||$80,700|
Cities In Spencer County
Select A City to View its Apartment Communities and Waiting Lists.
|Taylorsville||4||The HUD funded Public Housing Agency that serves Taylorsville is the Kentucky Housing Corporation.|
|Elk Creek||0||The HUD funded Public Housing Agency that serves Elk Creek is the Kentucky Housing Corporation.|