How many renters live in Taylor County, Kentucky?
The County of Taylor County has 26,056 people living in 9,843 households.
There are 7,197 renters living in 3,197 renter households in this County. Renters make up 27.62 percent of the population living in Taylor County.
What is the rental market like in Taylor County, Kentucky?
There are an estimated 11,201 housing units in the Taylor County area. Of these, 3,259 units are rental homes, making up 29 percent of the housing market. For every renter household in Taylor County, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Taylor County?
The rental vacancy rate in Taylor County is 1 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 Taylor County for each bedroom size?
Occupied Rental Units by Size in Taylor County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 49 | 344 | 1,388 | 1,248 | 158 |
Occupied Rental Units by Size in Taylor County
A large number of apartments in Taylor 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 Taylor County are overburdened by housing costs?
Among renter households in this market, 30 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 Taylor County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,147. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $616 |
| One BR | $744 |
| Two BR | $850 |
| Three BR | $1,142 |
| Four BR | $1,147 |
2024 Fair Market Rents in Taylor County, Kentucky
How many units are rented at Fair Market Rent (FMR) in Taylor 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 | 23 | 47 percent |
| One BR | 292 | 85 percent |
| Two BR | 892 | 64 percent |
Rental Units Below FMR in Taylor County, Kentucky
How many affordable rental units are in Taylor County?
There are a variety of federal affordable housing programs serving households in Taylor County, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 120 |
| Public Housing | 300 |
| Section 8 Project-Based Rental Assistance | 184 |
| Section 811 Supportive Housing for Persons with Disabilities | 6 |
| USDA Section 515 Rural Rental Housing | 44 |
Tracked Units by Federal Program in Taylor County, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Taylor County, Kentucky
Taylor County features 527 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 Taylor County, Kentucky
There are 86 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Taylor County.
Housing Choice Vouchers in Taylor County, Kentucky
On average, Section 8 Housing Choice vouchers pay Taylor County landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Taylor County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Taylor County, Kentucky for a two-bedroom apartment is between $765 and $935.
Sourced from federal housing data and AffordableHousingOnline.com research.
