What are the best income-based apartment options in Louisville, KY?
Louisville has a total of 17,745 affordable housing units, with 11,587 of them being income-based, according to data from AffordableHousingOnline.com.
The median gross income for households in Louisville is $45,762 per year, while the median rent is $727 per month, indicating that 45.78% of renters are considered rent-overburdened.
The Louisville Metro Housing Authority administers both public housing and the Section 8 voucher program to provide affordable housing options for low-income residents in the city.
There are currently 758 low-income apartment units available for rent in Louisville, with average rental prices ranging from $854 to $1,591 per month, according to Apartments.com.
The maximum amount a Section 8 voucher would pay on behalf of a low-income tenant in Louisville for a two-bedroom apartment is between $1,171 and $1,431, according to federal housing data.
Many of Louisville's income-based apartment units are subsidized through the Low-Income Housing Tax Credit (LIHTC) program, which sets rent limits to ensure that households earning up to 60% of the area median income only pay 30% of their income towards rent.
One of the largest income-based apartment complexes in Louisville is the Heritage Green Apartments, which offers 1-3 bedroom units with rents ranging from $829 to $1,348 per month.
The Watterson Lakeview Apartments in Louisville's West End are an income-based affordable housing opportunity, with units available for households earning up to 60% of the area median income.
The Christ the King Apartments, located in the West End, offer 1-2 bedroom units with rents ranging from $600 to $720 per month for low-income tenants.
The Montgomery Apartments, also in the West End, provide 2-3 bedroom units with rents ranging from $930 to $1,000 per month for low-income residents.
The Louisville Metro Housing Authority's website, LMHA1.org, provides detailed information on the various rental assistance programs available in the city, including how to apply for public housing and Section 8 vouchers.
The new West Louisville YMCA, which opened in 2023, is within walking distance of the Axton-Fischer Warehouse, a 116-unit senior affordable housing development currently under construction.
The median gross rent for a one-bedroom apartment in the Old Louisville neighborhood is $750 per month, making it a relatively affordable option for low-income renters.
The Shawnee neighborhood in Louisville has one-bedroom apartments with median rents of $1,064 per month, which may be out of reach for some low-income residents.
The Smoketown neighborhood offers one-bedroom apartments with a median rent of $899 per month, providing a more affordable option for low-income renters.
The Most Blessed Sacrament apartment complex in Louisville's West End offers one-bedroom units, with rent prices available upon request.
The Louisville Metro Housing Authority's Board of Commissioners holds regular meetings to discuss and make decisions about affordable housing policies and initiatives in the city.
The city's affordable housing stock includes a mix of project-based Section 8, public housing, and LIHTC-funded units, providing a variety of options for low-income residents.
Louisville's income-based apartment complexes often have long waitlists, underscoring the high demand for affordable housing in the city.
The Louisville Metro Housing Authority works closely with local non-profit organizations to identify and address the unique housing needs of the city's low-income population.