Low Income Apartments and Affordable Housing For Rent in Owenton, KY

Discover affordable housing in Owenton where there are 6+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Adair Family Apartments

119 E Adair St, Owenton, Kentucky 40359

Adair Hill Apartments

117 E Adair St, Owenton, Kentucky 40359

B and J Apartments

434 Roland Avenue, Owenton, Kentucky

Gaines Village

101 Gaines Village Dr, Owenton, Kentucky 40359

Manor House Apartments

107 E Perry St, Owenton, Kentucky 40359

Owenton Village II

319 N Main St, Owenton, Kentucky 40359

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Owenton, Kentucky
$16.95/hour
$9.70 (+134%) more than Kentucky minimum wage and $9.70 (+134%) more than the Federal minimum wage.
Learn More About Owenton, Kentucky Affordable Housing ↓

What HUD offices serve Owenton, 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.

Operates the Public Housing programs for Owenton, Kentucky.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Owenton, Kentucky.

Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Owenton.

How many renters live in Owenton, Kentucky?

The City of Owenton has 1,640 people living in 615 households.

There are 649 renters living in 280 renter households in this City. Renters make up 39.57 percent of the population living in Owenton.

What is the rental market like in Owenton, Kentucky?

There are an estimated 746 housing units in the Owenton area. Of these, 324 units are rental homes, making up 43 percent of the housing market. For every renter household in Owenton, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Owenton?

The rental vacancy rate in Owenton is 14 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 Owenton for each bedroom size?

Occupied Rental Units by Size in Owenton
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 127 88 45 0
Occupied Rental Units by Size in Owenton

A large number of apartments in Owenton 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 Owenton are overburdened by housing costs?

Among renter households in this market, 48 percent have housing cost burden. Further, 16 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 Owenton

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $649 to $1,217. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $649
One BR $681
Two BR $895
Three BR $1,135
Four BR $1,217
2024 Fair Market Rents in Owenton, Kentucky

How many units are rented at Fair Market Rent (FMR) in Owenton?

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
One BR 111 87 percent
Two BR 58 66 percent
Rental Units Below FMR in Owenton, Kentucky

How many affordable rental units are in Owenton?

There are a variety of federal affordable housing programs serving households in Owenton, Kentucky including the following:

Federal Program Unit Count
Public Housing 32
Section 8 Project-Based Rental Assistance 12
USDA Section 515 Rural Rental Housing 75
Tracked Units by Federal Program in Owenton, Kentucky

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Owenton, Kentucky

Owenton features 111 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 Owenton, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Owenton.

Housing Choice Vouchers in Owenton, Kentucky

On average, Section 8 Housing Choice vouchers pay Owenton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Owenton.

The maximum amount a voucher would pay on behalf of a low-income tenant in Owenton, Kentucky for a two-bedroom apartment is between $806 and $985.

Sourced from federal housing data and AffordableHousingOnline.com research.