What HUD offices serve Morehead, Kentucky?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Morehead.
How many renters live in Morehead, Kentucky?
The City of Morehead has 7,001 people living in 1,766 households.
There are 2,629 renters living in 1,183 renter households in this City. Renters make up 37.55 percent of the population living in Morehead.
What is the rental market like in Morehead, Kentucky?
There are an estimated 2,008 housing units in the Morehead area. Of these, 1,327 units are rental homes, making up 66 percent of the housing market. For every renter household in Morehead, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Morehead?
The rental vacancy rate in Morehead is 11 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Morehead for each bedroom size?
Occupied Rental Units by Size in Morehead
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 123 | 318 | 397 | 127 | 186 |
Occupied Rental Units by Size in Morehead
A large number of apartments in Morehead have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Morehead are overburdened by housing costs?
Among renter households in this market, 56 percent have housing cost burden. Further, 28 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Morehead
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $588 to $1,471. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $588 |
| One BR | $704 |
| Two BR | $867 |
| Three BR | $1,104 |
| Four BR | $1,471 |
2024 Fair Market Rents in Morehead, Kentucky
How many units are rented at Fair Market Rent (FMR) in Morehead?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 87 | 71 percent |
| One BR | 266 | 84 percent |
| Two BR | 240 | 60 percent |
Rental Units Below FMR in Morehead, Kentucky
How many affordable rental units are in Morehead?
There are a variety of federal affordable housing programs serving households in Morehead, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 64 |
| Public Housing | 220 |
| Section 8 Project-Based Rental Assistance | 78 |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Morehead, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Morehead, Kentucky
Morehead features 392 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Morehead, Kentucky
There are 133 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Morehead.
Housing Choice Vouchers in Morehead, Kentucky
On average, Section 8 Housing Choice vouchers pay Morehead landlords $500 per month towards rent. The average voucher holder contributes $100 towards rent in Morehead.
The maximum amount a voucher would pay on behalf of a low-income tenant in Morehead, Kentucky for a two-bedroom apartment is between $780 and $954.
Sourced from federal housing data and AffordableHousingOnline.com research.
