Affordable Housing In Franklin County
Kentucky

18 Low Income Apartment Communities In Franklin County

Cottages of Frankfort I

871 Cardwell Lane
Frankfort, Kentucky
Call For Rent
1-3 BR

Emily Apartments

325 Brighton Park Blvd
Frankfort, Kentucky
Call For Rent
1-2 BR
55+

Woodside Park

1335 Louisville Rd
Frankfort, Kentucky
Subsidized

Project Outreach Esperanza, Inc

200 Esperanza Dr
Frankfort, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Hickory Hills Manor

120 Marlowe Ct
Frankfort, Kentucky
Subsidized

Kings Daughters Apartments

220 Hanna Pl
Frankfort, Kentucky
Subsidized
62+
Accessible
Elderly Supportive Housing

Project Outreach Seneca

529 Pawnee Trl
Frankfort, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Project Outreach - Leawood

713 Leawood Dr
Frankfort, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Prince Hall Village Apartments

1100 Prince Hall Vlg
Frankfort, Kentucky
Subsidized

Franklin Place Apartments

126 Deepwood Dr
Frankfort, Kentucky
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Guide To Affordable Housing in Franklin County, Kentucky

There are 18 low income housing apartment communities offering 929 affordable apartments for rent in Franklin County, Kentucky.

Income Based Apartments in Franklin County, Kentucky

Franklin County features 596 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 Franklin County, Kentucky

There are 333 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin County.

Housing Choice Vouchers in Franklin County, Kentucky

On average, Section 8 Housing Choice vouchers pay Franklin County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Franklin County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin County, Kentucky for a two-bedroom apartment is between $714 and $872.

2022 Franklin County, 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
Franklin County, Kentucky Fair Market Rent $559 $660 $793 $1,066 $1,327
Franklin County, Kentucky Payment Standard Range $503 to $615 $594 to $726 $714 to $872 $959 to $1,173 $1,194 to $1,460

Sourced from federal housing data and AffordableHousingOnline.com research.

Franklin County, KY Affordable Housing Snapshot

Total Affordable Apartment Properties 18
Total Low Income Apartments 929
Total Housing Units with Rental Assistance 596
Percentage of Housing Units Occupied By Renters 37.05%
Average Renter Household Size 2.14
Average Household Size 2.28
Median Household Income $47,964 ±$2,842
Median Rent $687 ±$25
Percentage Of Renters Overburdened 45.41% ± 4.94pp
Total Population 49,778

Population and Household Demographics

Franklin County is a county in Kentucky with a population of 49,778. There are 21,033 households in the county with an average household size of 2.28 persons. 37.05% of households in Franklin County are renters.

Income and Rent Overburden in Franklin County

The median gross income for households in Franklin County is $47,964 a year, or $3,997 a month. The median rent for the county is $687 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin County, a household making less than $2,290 a month would be considered overburdened when renting an apartment at or above the median rent. 45.41% of households who rent are overburdened in Franklin County.

Area Median Income In Franklin County

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.

In Franklin County, HUD calculates the Area Median Income for a family of four as $72,000

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 Franklin County

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 Franklin County

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 Franklin County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$15,150 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Franklin County AMI may qualify for rental assistance programs that target Very Low Income households.
$25,200 $28,800 $32,400 $36,000 $38,900 $41,800 $44,650 $47,550
80% AMI Income Limits
Renters earning up to 80% of the Franklin County AMI may qualify for rental assistance programs that target Low Income households.
$40,350 $46,100 $51,850 $57,600 $62,250 $66,850 $71,450 $76,050

Cities In Franklin County

Select A City to View its Apartment Communities and Waiting Lists.

City Served By
Frankfort The HUD funded Public Housing Agency that serves Frankfort is the Housing Authority of Frankfort.