Low Income Apartments and Affordable Housing For Rent in Floyd County, KY

Discover affordable housing in Floyd County where there are 9+ 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.

Highland Heights

1 Goble Roberts Add, Prestonsburg, Kentucky 41653

Highland Terrace

34 Mays Br, Prestonsburg, Kentucky 41653

Cliffside Apartments

30 Cliffside Cir, Prestonsburg, Kentucky 41653

Park Place Apartments

5528 KY Route 114, Prestonsburg, Kentucky 41653

Branham Heights Apt

67 Branham Street, Wheelwright, Kentucky

Regency Park Apts

57 Regency Park, Prestonsburg, Kentucky

Grigsby Heights

120 Raymond Griffith Dr, Martin, Kentucky 41649


102 Mays Br, Prestonsburg, Kentucky 41653

Grigsby Heights II

184 Raymond Griffith Dr, Martin, Kentucky 41649

Open Until Further Notice

Reported On February 23rd, 2024 by Vanea Gardner

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Floyd County, Kentucky
$9.38 (+129%) more than Kentucky minimum wage and $9.38 (+129%) more than the Federal minimum wage.
Learn More About Floyd County, Kentucky Affordable Housing ↓

What HUD offices serve Floyd 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Floyd County, Kentucky.

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

How many renters live in Floyd County, Kentucky?

The County of Floyd County has 35,780 people living in 14,282 households.

There are 10,291 renters living in 4,106 renter households in this County. Renters make up 28.76 percent of the population living in Floyd County.

What is the rental market like in Floyd County, Kentucky?

There are an estimated 17,446 housing units in the Floyd County area. Of these, 4,268 units are rental homes, making up 24 percent of the housing market. For every renter household in Floyd County, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Floyd County?

The rental vacancy rate in Floyd County is 2 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 Floyd County for each bedroom size?

Occupied Rental Units by Size in Floyd County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
110 346 1,855 1,447 270
Occupied Rental Units by Size in Floyd County

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

Among renter households in this market, 36 percent have housing cost burden. Further, 22 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 Floyd County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $636 to $1,169. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $636
One BR $668
Two BR $878
Three BR $1,062
Four BR $1,169
2024 Fair Market Rents in Floyd County, Kentucky

How many units are rented at Fair Market Rent (FMR) in Floyd 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 84 76 percent
One BR 260 75 percent
Two BR 983 53 percent
Rental Units Below FMR in Floyd County, Kentucky

How many affordable rental units are in Floyd County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 13
Public Housing 482
Section 8 Project-Based Rental Assistance 248
Section 202 Supportive Housing for the Elderly 12
USDA Section 515 Rural Rental Housing 65
Tracked Units by Federal Program in Floyd County, Kentucky

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

Income Based Apartments in Floyd County, Kentucky

Floyd County features 601 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 Floyd County, Kentucky

There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Floyd County.

Housing Choice Vouchers in Floyd County, Kentucky

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Floyd County, Kentucky for a two-bedroom apartment is between $790 and $966.

Sourced from federal housing data and AffordableHousingOnline.com research.