About This Property
Cave Valley Apartments comprises 29 two-bedroom units serving elderly residents in Mt. Vernon, Kentucky. The property has been in service since 2005 and operates as a low-income housing community funded through 4% Low-Income Housing Tax Credits. A nonprofit organization owns and manages the development.
Property Details
Fair Market Rent - Rockcastle County, KY
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $616 |
| 1 Bedroom | $647 |
| 2 Bedroom | $850 |
| 3 Bedroom | $1,130 |
| 4 Bedroom | $1,156 |
Income Limits - Rockcastle County, KY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $19,050
- Low (80%)
- $30,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,750
- Low (80%)
- $34,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,450
- Low (80%)
- $39,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,150
- Low (80%)
- $43,450
- Extremely Low (30%)
- $29,350
- Very Low (50%)
- $29,350
- Low (80%)
- $46,950
- Extremely Low (30%)
- $31,500
- Very Low (50%)
- $31,500
- Low (80%)
- $50,450
- Extremely Low (30%)
- $33,700
- Very Low (50%)
- $33,700
- Low (80%)
- $53,900
- Extremely Low (30%)
- $35,850
- Very Low (50%)
- $35,850
- Low (80%)
- $57,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $19,050 | $30,450 |
| 2 Persons | $17,420 | $21,750 | $34,800 |
| 3 Persons | $21,960 | $24,450 | $39,150 |
| 4 Persons | $26,500 | $27,150 | $43,450 |
| 5 Persons | $29,350 | $29,350 | $46,950 |
| 6 Persons | $31,500 | $31,500 | $50,450 |
| 7 Persons | $33,700 | $33,700 | $53,900 |
| 8 Persons | $35,850 | $35,850 | $57,400 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mt Vernon, KY?+
The Fair Market Rent (FMR) for Rockcastle County, KY is: $616 (Studio), $647 (1BR), $850 (2BR), $1130 (3BR), $1156 (4BR). Actual rent at subsidized properties like Cave Valley Apartments is typically 30% of household income or less.
What size apartments are available at Cave Valley Apartments?+
Cave Valley Apartments offers the following unit types: 29 Two-Bedroom units, for a total of 29 units.
What are the income limits for affordable housing in Rockcastle County, KY?+
For a 4-person household in Rockcastle County, KY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,150, Low Income (80% AMI): $43,450. These limits are set by HUD and updated annually.
Who is eligible to live at Cave Valley Apartments?+
Cave Valley Apartments primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Cave Valley Apartments?+
Cave Valley Apartments is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Who manages Cave Valley Apartments?+
Cave Valley Apartments is managed by . You can reach them at .
What is the price range for apartments in Mt Vernon, KY?+
Based on Fair Market Rent for Rockcastle County, the estimated price range is: 2-bedroom: $850. Actual rent at Cave Valley Apartments may be lower for income-eligible households.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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