Affordable & Low-Income Housing in Richmond, KY 40475
12 affordable buildings in 40475 · 10 more within 13 mi
Richmond, KY 40475 has 12 income-restricted buildings: 7 tax credit, 2 public housing, 4 Section 8, and 2 senior. 10 more are listed within 13 miles. These lists don't show openings — call to ask about vacancies and waiting lists.
In 40475
B E Willis Manor
502 Ellis Ct, Richmond, KY 40475
186 units · 1–3 BR
- Apply through Housing Authority of Richmond
- Residents waited about 8 months to move in (HUD, Oct 2026)
Richmond Manor Apartments
743B N Third St, Richmond, KY 40475
138 units · 132 income-restricted · 1–4+ BR
Smith Village
414 Smith Vlg Apt A, Richmond, KY 40475
105 units · 1–3 BR
- Apply through Housing Authority of Richmond
- Residents waited about 12 months to move in (HUD, Oct 2026)
Bivins Place
1019 Danielle Court, Richmond, KY 40475
11 units · 10 income-restricted · 1 BR · People with disabilities
No buildings in 40475 match this filter.
Nearby
Glades Village
192 Glades Rd, Berea, KY 40403
12.3 mi away
76 units · 1–3 BR
- 3 vacant units reported (Oct 2026) — call to confirm
Clay Fee Homes
111 Rogers St, Berea, KY 40403
13.3 mi away
60 units · 1–3 BR
- Apply through Housing Authority of Berea
- Residents waited about 19 months to move in (HUD, Oct 2026)
Silver Creek
100 Miracle St, Berea, KY 40403
13.4 mi away
60 units · 1–3 BR
- 2 vacant units reported (Oct 2026) — call to confirm
Sugar Mill Hope VI Apartments
Versailles Road, Lexington, KY 40404
13.7 mi away
61 units · 60 income-restricted · 1–3 BR
Aqueduct Place
1156 Mt Rushmore Way, Lexington-Fayette, KY 40515
17.4 mi away
4 units · 3 income-restricted · 1 BR · People with disabilities
Bluegrass Village
3093 Tuscaloosa, Lexington-Fayette, KY 40515
17.8 mi away
8 units · 1 BR · People with disabilities
No nearby buildings match this filter.
Rents and income limits in 40475
- Fair market rent, 2 bedrooms
- $1,030/mo
- Income needed to pay it at 30% of income
- $41,200/yr
- Renters in 40475 paying 30% or more of income on rent
- 45%
Income limits (2026)
Madison County, KY area · median family income $85,800. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $18,050 | $30,050 | $48,100 |
| 2 | $21,640 | $34,350 | $54,950 |
| 3 | $27,320 | $38,650 | $61,800 |
| 4 | $33,000 | $42,900 | $68,650 |
| 5 | $38,680 | $46,350 | $74,150 |
| 6 | $44,360 | $49,800 | $79,650 |
| 7 | $50,040 | $53,200 | $85,150 |
| 8 | $55,720 | $56,650 | $90,650 |
Section 8 vouchers: up to the 50% limit, and most go to households under 30%. Public housing: up to 80%. Tax-credit apartments: usually up to 60% of median income, between the 50% and 80% columns.
Fair market rents (2027)
HUD's estimate of rent plus utilities for a modest home. Housing authorities set Section 8 voucher limits from it.
| Size | 40475 | Wider area |
|---|---|---|
| Studio | $720 | $691 |
| 1 bedroom | $890 | $859 |
| 2 bedrooms | $1,030 | $993 |
| 3 bedrooms | $1,430 | $1,375 |
| 4 bedrooms | $1,660 | $1,600 |
Wider area = Madison County, KY. Two-bedroom fair market rents in 4 nearby ZIPs range from $940 (40404) to $1,690 (40515).
Census figures for 40475 (2020–2024 average): median rent $911. Median household income $63,050. 42% of homes are rented. 45% of renters pay 30% or more of their income on rent, and 19% pay half or more.
Census median rent is what renters here actually pay, including long-term leases. Fair market rent is HUD's estimate for a modest apartment available now.
Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures); U.S. Census Bureau American Community Survey 5-year 2020–2024. Each program and building can set its own limits — confirm with the property.
Estimate your Section 8 rent share
Project-based Section 8 is on the buildings above. A Housing Choice Voucher is different: you apply with the housing authority, then find a landlord who takes it. Your share of rent is based on income — not always 30%. The calculator uses 40475's fair market rent.
Estimate your Section 8 rent share for 40475Frequently Asked Questions
Is there Section 8 housing in Richmond, KY 40475?
Yes — this directory lists income-restricted buildings in Richmond, KY 40475, including project-based Section 8 apartments (the subsidy stays with the unit), public housing, tax-credit, and USDA rural rentals. Housing Choice Vouchers are different: you apply with the local housing authority and can use them at a private landlord. Estimate your voucher rent share with the Section 8 calculator.
Do affordable housing buildings in Richmond, KY 40475 have openings?
These lists for Richmond, KY 40475 don't show openings. Call the property (or the housing authority, for public housing) to ask about vacancies and waiting lists.
How do I apply for affordable housing in Richmond, KY 40475?
Use the phone number on each building card in Richmond, KY 40475. Public housing is run by the local housing authority — apply with them, not at the building. USDA rural rentals can also be found through USDA's property search.
What counts as affordable housing in Richmond, KY 40475?
In Richmond, KY 40475, this directory lists income-restricted rentals from HUD tax-credit (LIHTC) records, public housing, HUD-assisted buildings (including project-based Section 8, 202, and 811), and USDA Rural Development.
How many affordable housing buildings are in ZIP 40475?
This directory lists 12 income-restricted buildings in Richmond, KY 40475. The list does not show vacancies — call each property or the housing authority to ask about openings and waiting lists.
Is there affordable housing near 40475?
Yes — this page also lists 10 income-restricted buildings in ZIP codes near Richmond, KY 40475 (within about 13 miles). Pick a nearby ZIP to see every building there.
People Also Ask
How do I qualify for affordable housing in Richmond, KY 40475?
Most income-restricted buildings in Richmond, KY 40475 serve households at or below 50% or 80% of area median income. HUD's 2026 very low-income (50%) limit for a 1-person household is $30,050, and $42,900 for a 4-person household. Public housing can go up to 80% ($48,100 for 1 person). Each building sets its own cap — call to confirm before you apply. Citizenship, household size, and local preferences can also apply.
What is the income limit for low-income housing in Richmond, KY 40475?
For many programs in Richmond, KY 40475, the 2026 HUD very low-income (50%) limit is $30,050 a year for 1 person and $42,900 for 4 people. The low-income (80%) limit is $48,100 for 1 person. Tax-credit buildings often use 60% of median income. Confirm with the property — they can be stricter.
How long is the waiting list for Section 8 in Richmond, KY 40475?
There is no single waiting list for Richmond, KY 40475. Public housing, project-based Section 8, and tax-credit buildings each keep their own list. Housing Choice Voucher lists at the housing authority open only sometimes and can stay closed for years. This directory does not show which lists are open — call the number on each card. Some public housing cards show HUD's reported wait in months.
What is the difference between Section 8 and public housing in Richmond, KY 40475?
Public housing is owned by a housing authority — you apply with that agency, not at the building. Project-based Section 8 is a HUD contract on a private building; the subsidy stays with the apartment. A Housing Choice Voucher is different: you apply with the housing authority and can use it at a landlord who takes it. This page lists public housing, project-based Section 8, tax-credit apartments in Richmond, KY 40475. Estimate voucher rent share with the Section 8 calculator.
How much rent do you pay for low-income housing in Richmond, KY 40475?
In public housing and most Section 8 in Richmond, KY 40475, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Richmond, KY 40475 is $1,030 a month (rent plus utilities for a modest unit). Tax-credit apartments use set rents below market, not always 30% of income. Call the building for the actual rent; this site is not a vacancy or price list.
Can I use a Section 8 voucher at affordable apartments in Richmond, KY 40475?
A Housing Choice Voucher is not automatically accepted at every building in Richmond, KY 40475. Project-based Section 8 units already have a subsidy on the apartment — you apply there, not with a tenant voucher. For a voucher, apply with the housing authority, then ask each landlord. Estimate your share with the Section 8 calculator.
Is there senior affordable housing in Richmond, KY 40475?
Yes — this directory flags senior (often 62+) buildings in Richmond, KY 40475. Use the Seniors filter on the list. Age rules vary; call to confirm.
Nearby ZIP codes
Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026; HUD Public Housing Developments, Oct 2026; USDA Rural Development multifamily, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying.
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