Affordable Housing In Woodford County
Kentucky

5 Low Income Apartment Communities In Woodford County

Housing Authorities that serve Woodford County

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

Other Housing Authorities located in Woodford County

Housing Authority	Programs
Housing Authority of Versailles	Public Housing

Guide To Affordable Housing in Woodford County, Kentucky

There are 5 low income housing apartment communities offering 309 affordable apartments for rent in Woodford County, Kentucky.

Income Based Apartments in Woodford County, Kentucky

Woodford County features 224 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 Woodford County, Kentucky

There are 85 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Woodford County.

Housing Choice Vouchers in Woodford County, Kentucky

On average, Section 8 Housing Choice vouchers pay Woodford County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Woodford County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Woodford County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties	5
Total Low Income Apartments	309
Total Housing Units with Rental Assistance	224
Percentage of Housing Units Occupied By Renters	31.01%
Average Renter Household Size	2.54
Average Household Size	2.55
Median Household Income	$58,750 ±$3,915
Median Rent	$725 ±$30
Percentage Of Renters Overburdened	30.49% ± 5.74pp
Total Population	25,317

Population and Household Demographics

Woodford County is a County in Kentucky with a population of 25,317. There are 9,802 households in the county with an average household size of 2.55 persons. 31.01% of households in Woodford County are renters.

Income and Rent Overburden in Woodford County

The median gross income for households in Woodford County is $58,750 a year, or $4,896 a month. The median rent for the county is $725 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Woodford County, a household making less than $2,417 a month would be considered overburdened when renting an apartment at or above the median rent. 30.49% of households who rent are overburdened in Woodford County.¹

Area Median Income In Woodford 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 Woodford County, HUD calculates the Area Median Income for a family of four as $74,500

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 Woodford 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 Woodford County

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$15,650	$17,900	$21,330	$25,750	$30,170	$34,590	$39,010	$43,430
50% of Median	$26,100	$29,800	$33,550	$37,250	$40,250	$43,250	$46,200	$49,200
80% of Median	$41,750	$47,700	$53,650	$59,600	$64,400	$69,150	$73,950	$78,700