What HUD offices serve Georgetown, 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 Georgetown.
How many renters live in Georgetown, Kentucky?
The City of Georgetown has 37,510 people living in 14,388 households.
There are 11,335 renters living in 4,977 renter households in this City. Renters make up 30.22 percent of the population living in Georgetown.
What is the rental market like in Georgetown, Kentucky?
There are an estimated 15,177 housing units in the Georgetown area. Of these, 5,059 units are rental homes, making up 33 percent of the housing market. For every renter household in Georgetown, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Georgetown?
The rental vacancy rate in Georgetown is 2 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 Georgetown for each bedroom size?
Occupied Rental Units by Size in Georgetown
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 106 | 744 | 2,282 | 1,757 | 65 |
Occupied Rental Units by Size in Georgetown
A large number of apartments in Georgetown 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 Georgetown are overburdened by housing costs?
Among renter households in this market, 36 percent have housing cost burden. Further, 11 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 Georgetown
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 Georgetown, Kentucky
How many units are rented at Fair Market Rent (FMR) in Georgetown?
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 | 43 | 41 percent |
| One BR | 537 | 72 percent |
| Two BR | 1,442 | 63 percent |
Rental Units Below FMR in Georgetown, Kentucky
How many affordable rental units are in Georgetown?
There are a variety of federal affordable housing programs serving households in Georgetown, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 311 |
| Public Housing | 325 |
| Section 8 Project-Based Rental Assistance | 94 |
| USDA Section 515 Rural Rental Housing | 234 |
Tracked Units by Federal Program in Georgetown, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Georgetown, Kentucky
Georgetown features 642 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 Georgetown, Kentucky
There are 364 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Georgetown.
Housing Choice Vouchers in Georgetown, Kentucky
On average, Section 8 Housing Choice vouchers pay Georgetown landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Georgetown.
The maximum amount a voucher would pay on behalf of a low-income tenant in Georgetown, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.
Sourced from federal housing data and AffordableHousingOnline.com research.
