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There are 0 low-income apartments in Horse Cave that offer reduced rents to eligible households.
Rental assistance programs support 180 low-income homes in Horse Cave where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Horse Cave, Kentucky
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
| Housing Authority | Programs |
|---|---|
| Housing Authority of Horse Cave | Public Housing |
| Kentucky Housing Corporation | Section 8 Housing Choice Voucher (HCV) |
Horse Cave, Kentucky Affordable Housing Data
Income Based Apartments in Horse Cave, Kentucky
Horse Cave features 180 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 Horse Cave, Kentucky
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Horse Cave.
Housing Choice Vouchers in Horse Cave, Kentucky
On average, Section 8 Housing Choice vouchers pay Horse Cave landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Horse Cave.
The maximum amount a voucher would pay on behalf of a low-income tenant in Horse Cave, Kentucky for a two-bedroom apartment is between $765 and $935.
2024 Horse Cave, 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 | |
|---|---|---|---|---|---|
| Horse Cave, Kentucky Fair Market Rent | $616 | $647 | $850 | $1,093 | $1,132 |
| Horse Cave, Kentucky Payment Standard Range | $554 to $678 | $582 to $712 | $765 to $935 | $984 to $1,202 | $1,019 to $1,245 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Horse Cave, KY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 4 |
|---|---|
| Total Low Income Apartments | 180 |
| Total Housing Units with Rental Assistance | 180 |
| Percentage of Housing Units Occupied By Renters | 50.33% |
| Average Renter Household Size | 2.30 |
| Average Household Size | 2.33 |
| Median Household Income | $24,167 ±$6,129 |
| Median Rent | $440 ±$62 |
| Percentage Of Renters Overburdened | 51.74% ± 12.22pp |
| Total Population | 2,238 |
Population and Household Demographics
Horse Cave is a city in Hart County, Kentucky with a population of 2,238. There are 914 households in the city with an average household size of 2.33 persons. 50.33% of households in Horse Cave are renters.
Income and Rent Overburden in Horse Cave
The median gross income for households in Horse Cave is $24,167 a year, or $2,014 a month. The median rent for the city is $440 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Horse Cave, a household making less than $1,467 a month would be considered overburdened when renting an apartment at or above the median rent. 51.74% of households who rent are overburdened in Horse Cave.
Area Median Income In Horse Cave
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 Horse Cave, the AMI is calculated from all households within Hart County.
In Horse Cave, HUD calculates the Area Median Income for a family of four as $66,300
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 Horse Cave
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 Horse Cave
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Horse Cave AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $34,700 | $37,250 | $39,850 | $42,400 |
| 50% AMI Income Limits Renters earning up to 50% of the Horse Cave AMI may qualify for rental assistance programs that target Very Low Income households. |
$22,500 | $25,700 | $28,900 | $32,100 | $34,700 | $37,250 | $39,850 | $42,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Horse Cave AMI may qualify for rental assistance programs that target Low Income households. |
$35,950 | $41,100 | $46,250 | $51,350 | $55,500 | $59,600 | $63,700 | $67,800 |
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