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There are 24 low-income apartments in Stambaugh that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Stambaugh where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on September 24th, 2021. Subdsidized rents typically change once a year based on federal guidance.
Stambaugh, Kentucky Affordable Housing Data
Income Based Apartments in Stambaugh, Kentucky
Stambaugh features 0 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 Stambaugh, Kentucky
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stambaugh.
Housing Choice Vouchers in Stambaugh, Kentucky
On average, Section 8 Housing Choice vouchers pay Stambaugh landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Stambaugh.
The maximum amount a voucher would pay on behalf of a low-income tenant in Stambaugh, Kentucky for a two-bedroom apartment is between $765 and $935.
2024 Stambaugh, 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 | |
|---|---|---|---|---|---|
| Stambaugh, Kentucky Fair Market Rent | $616 | $647 | $850 | $1,120 | $1,156 |
| Stambaugh, Kentucky Payment Standard Range | $554 to $678 | $582 to $712 | $765 to $935 | $1,008 to $1,232 | $1,040 to $1,272 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In Stambaugh
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 Stambaugh, the AMI is calculated from all households within Johnson County.
In Stambaugh, HUD calculates the Area Median Income for a family of four as $60,200
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 Stambaugh
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 Stambaugh
| 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 Stambaugh 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 Stambaugh 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 Stambaugh 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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