Low Income Apartments and Affordable Housing For Rent in Fayette County, KY

Discover affordable housing in Fayette County where there are 84+ 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.

Hamburg Senior Residence

1601 Villa Medici Pass, Lexington, Kentucky 40509

Gleneagles Apartments

2920 Polo Club Blvd., Lexington, Kentucky 40509

First Presbyterian Church Apartments

179 Market St, Lexington, Kentucky 40507

Parkside III Apartments

1060 Cross Keys Rd, Lexington, Kentucky 40504

Trent Senior Village

1393 Trent Boulevard , Lexington, Kentucky 40517

Salem Village

1109 Winburn Dr, Lexington, Kentucky 40511

Russell School Apartments

201 W Fifth St, Lexington, Kentucky 40508

Alcove at Russell

1975 Russell Cave Road, Lexington, Kentucky 40511

Rose Tower Apartments (Formerly Christ Church)

137 Rose St, Lexington, Kentucky 40507

Briarwood Apartments of Lexington

1349 Centre Pkwy, Lexington, Kentucky 40517

Fairington of Lexington

3501 Laredo Dr, Lexington, Kentucky 40517

Derbytowne Apartments, Inc

321 Bainbridge Drive, Lexington, Kentucky 40509

Sayre Christian Village

3816 Camelot Dr, Lexington, Kentucky 40517

Virginia Avenue Apartments

381 Virginia Ave, Lexington, Kentucky 40504

Prall Place Apartments

147 Prall St, Lexington, Kentucky 40508

Danielle Court Apartments

2532 Danielle Ln, Lexington, Kentucky 40509

Liberty Commons

2101 Cornerstone Dr, Lexington, Kentucky 40509

Westminster Village

1510 Versailles Rd, Lexington, Kentucky 40504

Bluegrass Village

3093 Tuscaloosa Ln, Lexington, Kentucky 40515

Coolavin Apartments

551 W Sixth St, Lexington, Kentucky 40508

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Fayette County, Kentucky
$22.29/hour
$15.04 (+207%) more than Kentucky minimum wage and $15.04 (+207%) more than the Federal minimum wage.
Learn More About Fayette County, Kentucky Affordable Housing ↓

What HUD offices serve Fayette County, 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 Section 8 Housing Choice Voucher (HCV), Public Housing, Homeownership Voucher, Moving to Work programs for Fayette County, Kentucky.

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

How many renters live in Fayette County, Kentucky?

The County of Fayette County has 320,347 people living in 140,837 households.

There are 126,290 renters living in 64,788 renter households in this County. Renters make up 39.42 percent of the population living in Fayette County.

What is the rental market like in Fayette County, Kentucky?

There are an estimated 148,963 housing units in the Fayette County area. Of these, 67,450 units are rental homes, making up 45 percent of the housing market. For every renter household in Fayette County, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Fayette County?

The rental vacancy rate in Fayette County is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Fayette County for each bedroom size?

Occupied Rental Units by Size in Fayette County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
2,738 22,309 23,259 12,619 3,608
Occupied Rental Units by Size in Fayette County

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

Among renter households in this market, 54 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 Fayette County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $802 to $1,807. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $802
One BR $983
Two BR $1,177
Three BR $1,599
Four BR $1,807
2024 Fair Market Rents in Fayette County, Kentucky

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

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 1,336 49 percent
One BR 13,321 60 percent
Two BR 13,515 58 percent
Rental Units Below FMR in Fayette County, Kentucky

How many affordable rental units are in Fayette County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 1,989
Public Housing 914
Section 8 Project-Based Rental Assistance 2,013
Section 202 Supportive Housing for the Elderly 108
Section 811 Supportive Housing for Persons with Disabilities 38
Tracked Units by Federal Program in Fayette County, Kentucky

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

Income Based Apartments in Fayette County, Kentucky

Fayette County features 3,620 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 Fayette County, Kentucky

There are 1,713 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette County.

Housing Choice Vouchers in Fayette County, Kentucky

On average, Section 8 Housing Choice vouchers pay Fayette County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Fayette County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fayette County, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.

Sourced from federal housing data and AffordableHousingOnline.com research.