What HUD offices serve Montgomery 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.
Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Montgomery County.
How many renters live in Montgomery County, Kentucky?
The County of Montgomery County has 28,188 people living in 10,705 households.
There are 9,111 renters living in 3,631 renter households in this County. Renters make up 32.32 percent of the population living in Montgomery County.
What is the rental market like in Montgomery County, Kentucky?
There are an estimated 12,122 housing units in the Montgomery County area. Of these, 3,857 units are rental homes, making up 32 percent of the housing market. For every renter household in Montgomery County, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Montgomery County?
The rental vacancy rate in Montgomery County is 6 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 Montgomery County for each bedroom size?
Occupied Rental Units by Size in Montgomery County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 43 | 571 | 1,644 | 1,134 | 216 |
Occupied Rental Units by Size in Montgomery County
A large number of apartments in Montgomery 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 Montgomery County are overburdened by housing costs?
Among renter households in this market, 27 percent have housing cost burden. Further, 17 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 Montgomery County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,171. 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 | $1,167 |
| Four BR | $1,171 |
2024 Fair Market Rents in Montgomery County, Kentucky
How many units are rented at Fair Market Rent (FMR) in Montgomery 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 | 27 | 63 percent |
| One BR | 492 | 86 percent |
| Two BR | 991 | 60 percent |
Rental Units Below FMR in Montgomery County, Kentucky
How many affordable rental units are in Montgomery County?
There are a variety of federal affordable housing programs serving households in Montgomery County, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 93 |
| Public Housing | 225 |
| Section 8 Project-Based Rental Assistance | 50 |
| Section 811 Supportive Housing for Persons with Disabilities | 3 |
| USDA Section 515 Rural Rental Housing | 137 |
Tracked Units by Federal Program in Montgomery County, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Montgomery County, Kentucky
Montgomery County features 327 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 Montgomery County, Kentucky
There are 120 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montgomery County.
Housing Choice Vouchers in Montgomery County, Kentucky
On average, Section 8 Housing Choice vouchers pay Montgomery County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Montgomery County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Montgomery County, Kentucky for a two-bedroom apartment is between $765 and $935.
Sourced from federal housing data and AffordableHousingOnline.com research.
