Affordable Housing In Winchester
14 Low Income Apartment Communities In Winchester
Housing Authorities that serve Winchester
|Housing Authority of Winchester||Public Housing|
|Kentucky Housing Corporation||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Winchester, Kentucky
There are 14 low income housing apartment communities offering 873 affordable apartments for rent in Winchester, Kentucky.
Income Based Apartments in Winchester, Kentucky
Winchester features 718 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 Winchester, Kentucky
There are 155 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Winchester.
Housing Choice Vouchers in Winchester, Kentucky
On average, Section 8 Housing Choice vouchers pay Winchester landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Winchester.
The maximum amount a voucher would pay on behalf of a low-income tenant in Winchester, Kentucky for a two-bedroom apartment is between $772 and $944.
2020 Winchester, 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||$597||$678||$858||$1,189||$1,496|
|Payment Standard Range||$537 to $657||$610 to $746||$772 to $944||$1,070 to $1,308||$1,346 to $1,646|
Sourced from federal housing data and AffordableHousingOnline.com research.
Winchester, KY Affordable Housing Snapshot
|Total Affordable Apartment Properties||14|
|Total Low Income Apartments||873|
|Total Housing Units with Rental Assistance||718|
|Percentage of Housing Units Occupied By Renters||50.46%|
|Average Renter Household Size||2.25|
|Average Household Size||2.33|
|Median Household Income||$36,538 ±$3,108|
|Median Rent||$670 ±$43|
|Percentage Of Renters Overburdened||42.22% ± 7.26pp|
Population and Household Demographics
Winchester is a city in Clark County, Kentucky with a population of 18,388. There are 7,765 households in the city with an average household size of 2.33 persons. 50.46% of households in Winchester are renters.
Income and Rent Overburden in Winchester
The median gross income for households in Winchester is $36,538 a year, or $3,045 a month. The median rent for the city is $670 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Winchester, a household making less than $2,233 a month would be considered overburdened when renting an apartment at or above the median rent. 42.22% of households who rent are overburdened in Winchester.
Area Median Income In Winchester
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 Winchester, the AMI is calculated from all households within Clark County.
In Winchester, HUD calculates the Area Median Income for a family of four as $79,400
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 Winchester
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 Winchester
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$16,700||$19,050||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$27,800||$31,800||$35,750||$39,700||$42,900||$46,100||$49,250||$52,450|
|80% of Median||$44,450||$50,800||$57,150||$63,500||$68,600||$73,700||$78,750||$83,850|