Affordable Housing In Falmouth
Pendleton County, Kentucky

3 Low Income Apartment Communities In Falmouth

Bedford House Apartments

301 Licking St
Falmouth, Kentucky
Call For Rent
1 BR

Beech Terrace

420 Beech St
Falmouth, Kentucky

Abbeywood Apts

97 Abbeywood Dr
Falmouth, Kentucky
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Section 8 Vouchers, Apartments, and Waiting Lists in Falmouth, 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Falmouth, Kentucky

Housing Authority Programs
Housing Authority of Falmouth Public Housing
Campbell County Department of Housing Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Falmouth, Kentucky

There are 3 low income housing apartment communities offering 110 affordable apartments for rent in Falmouth, Kentucky.

Income Based Apartments in Falmouth, Kentucky

Falmouth features 110 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 Falmouth, Kentucky

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

Housing Choice Vouchers in Falmouth, Kentucky

On average, Section 8 Housing Choice vouchers pay Falmouth landlords $600 per month towards rent. The average voucher holder contributes $200 towards rent in Falmouth.

The maximum amount a voucher would pay on behalf of a low-income tenant in Falmouth, Kentucky for a two-bedroom apartment is between $871 and $1,065.

2022 Falmouth, Kentucky Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Falmouth, Kentucky Fair Market Rent $643 $742 $968 $1,302 $1,483
Falmouth, Kentucky Payment Standard Range $579 to $707 $668 to $816 $871 to $1,065 $1,172 to $1,432 $1,335 to $1,631

Sourced from federal housing data and research.

Falmouth, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 110
Total Housing Units with Rental Assistance 110
Percentage of Housing Units Occupied By Renters 40.65%
Average Renter Household Size 2.19
Average Household Size 2.33
Median Household Income $35,313 ±$7,587
Median Rent $517 ±$92
Percentage Of Renters Overburdened 46.27% ± 15.65pp
Total Population 2,349

Population and Household Demographics

Falmouth is a city in Pendleton County, Kentucky with a population of 2,349. There are 989 households in the city with an average household size of 2.33 persons. 40.65% of households in Falmouth are renters.

Income and Rent Overburden in Falmouth

The median gross income for households in Falmouth is $35,313 a year, or $2,943 a month. The median rent for the city is $517 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Falmouth, a household making less than $1,723 a month would be considered overburdened when renting an apartment at or above the median rent. 46.27% of households who rent are overburdened in Falmouth.

Area Median Income In Falmouth

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Falmouth, the AMI is calculated from all households within Pendleton County.

In Falmouth, HUD calculates the Area Median Income for a family of four as $85,400

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Falmouth

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Falmouth

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Falmouth AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,950 $20,500 $23,050 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Falmouth AMI may qualify for rental assistance programs that target Very Low Income households.
$29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
80% AMI Income Limits
Renters earning up to 80% of the Falmouth AMI may qualify for rental assistance programs that target Low Income households.
$47,850 $54,650 $61,500 $68,300 $73,800 $79,250 $84,700 $90,200