What HUD offices serve Bourbon 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 Bourbon County.
How many renters live in Bourbon County, Kentucky?
The County of Bourbon County has people living in households.
There are renters living in renter households in this County. Renters make up 34.4 percent of the population living in Bourbon County.
What is the rental market like in Bourbon County, Kentucky?
There are an estimated housing units in the Bourbon County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Bourbon County, Kentucky, there are 1.1 rental units.
What is the vacancy rate for rentals in Bourbon County?
The rental vacancy rate in Bourbon County is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Bourbon County for each bedroom size?
Occupied Rental Units by Size in Bourbon County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 99 | 588 | 1,114 | 867 | 180 |
Occupied Rental Units by Size in Bourbon County
A large number of apartments in Bourbon County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Bourbon 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 Bourbon County, Kentucky
How many units are rented at Fair Market Rent (FMR) in Bourbon 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 | 99 | 100 percent |
| One BR | 505 | 86 percent |
| Two BR | 969 | 87 percent |
Rental Units Below FMR in Bourbon County, Kentucky
How many affordable rental units are in Bourbon County?
There are a variety of federal affordable housing programs serving households in Bourbon County, Kentucky including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Bourbon County, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Bourbon County, Kentucky
Bourbon County features 367 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 Bourbon County, Kentucky
There are 300 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bourbon County.
Housing Choice Vouchers in Bourbon County, Kentucky
On average, Section 8 Housing Choice vouchers pay Bourbon County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Bourbon County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bourbon County, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.
Sourced from federal housing data and AffordableHousingOnline.com research.