What HUD offices serve Fayette 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 Fayette County.
How many renters live in Fayette County, Kentucky?
The County of Fayette County has people living in households.
There are renters living in renter households in this County. Renters make up 39.42 percent of the population living in Fayette County.
What is the rental market like in Fayette County, Kentucky?
There are an estimated housing units in the Fayette County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Fayette County, Kentucky, there are 1.04 rental units.
What is the vacancy rate for rentals in Fayette County?
The rental vacancy rate in Fayette County is 3 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 Fayette County for each bedroom size?
Occupied Rental Units by Size in Fayette County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 2,738 22,309 23,259 12,619 3,608 Occupied Rental Units by Size in Fayette County
A large number of apartments in Fayette 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 Fayette County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $883 to $1,940. FMRs are updated annually by HUD for every city and county nationwide.
Bed Size 2026 Fair Market Rents Studio $883 One BR $1,079 Two BR $1,272 Three BR $1,743 Four BR $1,940 2026 Fair Market Rents in Fayette County, Kentucky
How many units are rented at Fair Market Rent (FMR) in Fayette 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 1,336 49 percent One BR 13,321 60 percent Two BR 13,515 58 percent Rental Units Below FMR in Fayette County, Kentucky
How many affordable rental units are in Fayette County?
There are a variety of federal affordable housing programs serving households in
Fayette County, Kentucky including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit Public Housing Section 8 Project-Based Rental Assistance Section 202 Supportive Housing for the Elderly Section 811 Supportive Housing for Persons with Disabilities Tracked Units by Federal Program in Fayette County, Kentucky
Income Based Apartments in Fayette County, Kentucky
Fayette County features 3,620 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 Fayette County, Kentucky
There are 1,713 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette County.
Housing Choice Vouchers in Fayette County, Kentucky
On average, Section 8 Housing Choice vouchers pay Fayette County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Fayette County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fayette County, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.
Sourced from federal housing data and AffordableHousingOnline.com research.