Low Income Apartments For Rent in Independence, KY

Rental assistance programs support 110 low-income homes in Independence where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $364 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 Independence, 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 Covington - Section 8	Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV)
Housing Authority of Covington - Public Housing	Public Housing

Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Independence.

Independence, Kentucky Affordable Housing Data

Income Based Apartments in Independence, Kentucky

Independence features 110 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 Independence, Kentucky

There are 96 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Independence.

Housing Choice Vouchers in Independence, Kentucky

On average, Section 8 Housing Choice vouchers pay Independence landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Independence.

The maximum amount a voucher would pay on behalf of a low-income tenant in Independence, Kentucky for a two-bedroom apartment is between $1,076 and $1,315.

2024 Independence, 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
Independence, Kentucky Fair Market Rent	$810	$919	$1,195	$1,588	$1,766
Independence, Kentucky Payment Standard Range	$729 to $891	$827 to $1,011	$1,076 to $1,315	$1,429 to $1,747	$1,589 to $1,943

Sourced from federal housing data and AffordableHousingOnline.com research.

Independence, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 4

Total Low Income Apartments 206

Total Housing Units with Rental Assistance 110

Percentage of Housing Units Occupied By Renters 20.85%

Average Renter Household Size 3.21

Average Household Size 2.99

Median Household Income $65,653 ±$4,178

Median Rent $942 ±$56

Percentage Of Renters Overburdened 28.15% ± 8.14pp

Total Population 26,062

Total Affordable Apartment Properties	4
Total Low Income Apartments	206
Total Housing Units with Rental Assistance	110
Percentage of Housing Units Occupied By Renters	20.85%
Average Renter Household Size	3.21
Average Household Size	2.99
Median Household Income	$65,653 ±$4,178
Median Rent	$942 ±$56
Percentage Of Renters Overburdened	28.15% ± 8.14pp
Total Population	26,062

Population and Household Demographics

Independence is a city in Kenton County, Kentucky with a population of 26,062. There are 8,705 households in the city with an average household size of 2.99 persons. 20.85% of households in Independence are renters.

Income and Rent Overburden in Independence

The median gross income for households in Independence is $65,653 a year, or $5,471 a month. The median rent for the city is $942 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Independence, a household making less than $3,140 a month would be considered overburdened when renting an apartment at or above the median rent. 28.15% of households who rent are overburdened in Independence.

Area Median Income In Independence

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 Independence, the AMI is calculated from all households within Kenton County.

In Independence, HUD calculates the Area Median Income for a family of four as $103,600

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 Independence

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 Independence

	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 Independence AMI may qualify for rental assistance programs that target Extremely Low Income households.	$21,250	$24,300	$27,350	$30,350	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Independence AMI may qualify for rental assistance programs that target Very Low Income households.	$35,400	$40,450	$45,500	$50,550	$54,600	$58,650	$62,700	$66,750
80% AMI Income Limits Renters earning up to 80% of the Independence AMI may qualify for rental assistance programs that target Low Income households.	$56,650	$64,750	$72,850	$80,900	$87,400	$93,850	$100,350	$106,800