How many renters live in Kentucky?
The State of Kentucky has 30,613 people living in 11,649 households.
There are 7,595 renters living in 3,629 renter households in this State. Renters make up 24.81 percent of the population living in Kentucky.
What is the rental market like in Kentucky?
There are an estimated 12,933 housing units in the Kentucky area. Of these, 3,897 units are rental homes, making up 30 percent of the housing market. For every renter household in Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Kentucky?
The rental vacancy rate in Kentucky 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 Kentucky for each bedroom size?
Occupied Rental Units by Size in Kentucky
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 125 | 411 | 1,958 | 1,007 | 120 |
Occupied Rental Units by Size in Kentucky
A large number of apartments in Kentucky 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 Kentucky are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 27 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 many units are rented at Fair Market Rent (FMR) in Kentucky?
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 | 64 | 51 percent |
| One BR | 317 | 77 percent |
| Two BR | 1,460 | 75 percent |
Rental Units Below FMR in Kentucky
How many affordable rental units are in Kentucky?
There are a variety of federal affordable housing programs serving households in Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 148 |
| Public Housing | 394 |
| Section 8 Project-Based Rental Assistance | 42 |
| Section 811 Supportive Housing for Persons with Disabilities | 12 |
| USDA Section 515 Rural Rental Housing | 174 |
Tracked Units by Federal Program in Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Kentucky
Kentucky features 55,036 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 Kentucky
There are 20,239 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Kentucky.
Housing Choice Vouchers in Kentucky
On average, Section 8 Housing Choice vouchers pay Kentucky landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Kentucky.
The maximum amount a voucher would pay on behalf of a low-income tenant in Kentucky for a two-bedroom apartment is between $835 and $1,021.
Sourced from federal housing data and AffordableHousingOnline.com research.
