About This Property
The Redmond Building contains 18 low-income residential units in Mt. Sterling, Kentucky, serving families in Montgomery County. This property was placed in service in 1995 and utilizes 9% Low-Income Housing Tax Credits (LIHTC) to support its affordable housing mission.
Property Details
Fair Market Rent - Montgomery 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 | $1,167 |
| 4 Bedroom | $1,171 |
Income Limits - Montgomery County, KY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $19,250
- Low (80%)
- $30,800
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $22,000
- Low (80%)
- $35,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,750
- Low (80%)
- $39,600
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,500
- Low (80%)
- $44,000
- Extremely Low (30%)
- $29,700
- Very Low (50%)
- $29,700
- Low (80%)
- $47,550
- Extremely Low (30%)
- $31,900
- Very Low (50%)
- $31,900
- Low (80%)
- $51,050
- Extremely Low (30%)
- $34,100
- Very Low (50%)
- $34,100
- Low (80%)
- $54,600
- Extremely Low (30%)
- $36,300
- Very Low (50%)
- $36,300
- Low (80%)
- $58,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $19,250 | $30,800 |
| 2 Persons | $17,420 | $22,000 | $35,200 |
| 3 Persons | $21,960 | $24,750 | $39,600 |
| 4 Persons | $26,500 | $27,500 | $44,000 |
| 5 Persons | $29,700 | $29,700 | $47,550 |
| 6 Persons | $31,900 | $31,900 | $51,050 |
| 7 Persons | $34,100 | $34,100 | $54,600 |
| 8 Persons | $36,300 | $36,300 | $58,100 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mt Sterling, KY?+
The Fair Market Rent (FMR) for Montgomery County, KY is: $616 (Studio), $647 (1BR), $850 (2BR), $1167 (3BR), $1171 (4BR). Actual rent at subsidized properties like Redmond Building is typically 30% of household income or less.
What are the income limits for affordable housing in Montgomery County, KY?+
For a 4-person household in Montgomery County, KY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,500, Low Income (80% AMI): $44,000. These limits are set by HUD and updated annually.
Who is eligible to live at Redmond Building?+
Redmond Building primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Redmond Building?+
Redmond Building is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Redmond Building?+
Redmond Building is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, 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.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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