About This Property
Madison Towers comprises 102 low-income units in Richmond, Kentucky, serving elderly residents since 2016. The property offers 101 one-bedroom units and one two-bedroom unit. Prospective tenants should contact the property directly for current availability and lease terms.
Waitlist Information
Waitlist managed by City of Richmond Section 8 Housing Program
The Housing Authority of Richmond is accepting applications for the waiting list for Robinson Terrace, Smith Village, and Willis Manor properties, which serve families and senior/disabled households and have a preference point system. Applications are available for pickup at the Housing Authority office or can be mailed upon request; appointments are required to submit pre-applications.
The waiting list for the City of Richmond Section 8 Housing Program (HCV) in Richmond, KY is currently closed.
Waitlist data provided by section8waitlist.org
Updated July 7, 2026
Property Details
Fair Market Rent - Madison 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 | $750 |
| 1 Bedroom | $794 |
| 2 Bedroom | $914 |
| 3 Bedroom | $1,288 |
| 4 Bedroom | $1,301 |
Income Limits - Madison County, KY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,050
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $26,750
- Low (80%)
- $42,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,100
- Low (80%)
- $48,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $33,400
- Low (80%)
- $53,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,100
- Low (80%)
- $57,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $38,750
- Low (80%)
- $62,050
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $41,450
- Low (80%)
- $66,300
- Extremely Low (30%)
- $44,100
- Very Low (50%)
- $44,100
- Low (80%)
- $70,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,050 | $23,400 | $37,450 |
| 2 Persons | $17,420 | $26,750 | $42,800 |
| 3 Persons | $21,960 | $30,100 | $48,150 |
| 4 Persons | $26,500 | $33,400 | $53,450 |
| 5 Persons | $31,040 | $36,100 | $57,750 |
| 6 Persons | $35,580 | $38,750 | $62,050 |
| 7 Persons | $40,120 | $41,450 | $66,300 |
| 8 Persons | $44,100 | $44,100 | $70,600 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Richmond, KY?+
The Fair Market Rent (FMR) for Madison County, KY is: $750 (Studio), $794 (1BR), $914 (2BR), $1288 (3BR), $1301 (4BR). Actual rent at subsidized properties like Madison Towers is typically 30% of household income or less.
What size apartments are available at Madison Towers?+
Madison Towers offers the following unit types: 101 One-Bedroom, 1 Two-Bedroom units, for a total of 102 units.
What are the income limits for affordable housing in Madison County, KY?+
For a 4-person household in Madison County, KY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $33,400, Low Income (80% AMI): $53,450. These limits are set by HUD and updated annually.
Is there a waitlist for Madison Towers?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who is eligible to live at Madison Towers?+
Madison Towers 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 Madison Towers?+
Madison Towers 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 Madison Towers?+
Madison Towers is managed by . You can reach them at .
What is the price range for apartments in Richmond, KY?+
Based on Fair Market Rent for Madison County, the estimated price range is: 1-bedroom: $794, 2-bedroom: $914. Actual rent at Madison Towers may be lower for income-eligible households.
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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