What HUD offices serve Elkton, 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 Elkton.
How many renters live in Elkton, Kentucky?
The City of Elkton has 1,953 people living in 804 households.
There are 631 renters living in 270 renter households in this City. Renters make up 32.31 percent of the population living in Elkton.
What is the rental market like in Elkton, Kentucky?
There are an estimated 961 housing units in the Elkton area. Of these, 316 units are rental homes, making up 33 percent of the housing market. For every renter household in Elkton, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Elkton?
The rental vacancy rate in Elkton is 15 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 Elkton for each bedroom size?
Occupied Rental Units by Size in Elkton
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 43 | 128 | 85 | 14 |
Occupied Rental Units by Size in Elkton
A large number of apartments in Elkton 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 Elkton are overburdened by housing costs?
Among renter households in this market, 29 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 Elkton
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,331. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $616 |
| One BR | $647 |
| Two BR | $850 |
| Three BR | $1,165 |
| Four BR | $1,331 |
2024 Fair Market Rents in Elkton, Kentucky
How many units are rented at Fair Market Rent (FMR) in Elkton?
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 | 31 | 72 percent |
| Two BR | 71 | 55 percent |
Rental Units Below FMR in Elkton, Kentucky
How many affordable rental units are in Elkton?
There are a variety of federal affordable housing programs serving households in Elkton, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 48 |
| Section 8 Project-Based Rental Assistance | 48 |
Tracked Units by Federal Program in Elkton, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Elkton, Kentucky
Elkton features 24 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 Elkton, Kentucky
There are 57 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elkton.
Housing Choice Vouchers in Elkton, Kentucky
On average, Section 8 Housing Choice vouchers pay Elkton landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Elkton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Elkton, Kentucky for a two-bedroom apartment is between $765 and $935.
Sourced from federal housing data and AffordableHousingOnline.com research.
