Low Income Apartments and Affordable Housing For Rent in Clay, KY

Discover affordable housing in Clay where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Ridgemont Apts. II

90 Park Street, Clay, Kentucky

Ridgemont Apts

87 Nall St, Clay, Kentucky

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Clay, Kentucky
$16.40/hour
$9.15 (+126%) more than Kentucky minimum wage and $9.15 (+126%) more than the Federal minimum wage.
Learn More About Clay, Kentucky Affordable Housing ↓

What HUD offices serve Clay, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Clay, Kentucky.

Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Clay.

How many renters live in Clay, Kentucky?

The City of Clay has 1,079 people living in 415 households.

There are 311 renters living in 130 renter households in this City. Renters make up 28.82 percent of the population living in Clay.

What is the rental market like in Clay, Kentucky?

There are an estimated 495 housing units in the Clay area. Of these, 159 units are rental homes, making up 32 percent of the housing market. For every renter household in Clay, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Clay?

The rental vacancy rate in Clay 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 Clay for each bedroom size?

Occupied Rental Units by Size in Clay
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
10 43 48 9 20
Occupied Rental Units by Size in Clay

A large number of apartments in Clay 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 Clay are overburdened by housing costs?

Among renter households in this market, 42 percent have housing cost burden. Further, 0 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 Clay

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $628 to $1,177. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $628
One BR $659
Two BR $866
Three BR $1,047
Four BR $1,177
2024 Fair Market Rents in Clay, Kentucky

How many units are rented at Fair Market Rent (FMR) in Clay?

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 10 100 percent
One BR 39 91 percent
Two BR 39 81 percent
Rental Units Below FMR in Clay, Kentucky

How many affordable rental units are in Clay?

There are a variety of federal affordable housing programs serving households in Clay, Kentucky including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Clay, Kentucky

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Clay, Kentucky

Clay features 24 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 Clay, Kentucky

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Clay.

Housing Choice Vouchers in Clay, Kentucky

On average, Section 8 Housing Choice vouchers pay Clay landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Clay.

The maximum amount a voucher would pay on behalf of a low-income tenant in Clay, Kentucky for a two-bedroom apartment is between $779 and $953.

Sourced from federal housing data and AffordableHousingOnline.com research.