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 |
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 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.
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.
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 manages Cave Valley Apartments?+
Cave Valley Apartments is managed by . You can reach them at .
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.
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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