Affordable Housing In Franklin County
Kentucky

18 Low Income Apartment Communities In Franklin County

Cottages of Frankfort I

871 Cardwell Lane
Frankfort, KY
Call For Rent
1-3 BR
HCV Welcome

Emily Apartments

325 Brighton Park Blvd
Frankfort, KY
Call For Rent
1-2 BR
55+
HCV Welcome

Woodside Park

1335 Louisville Rd
Frankfort, KY
Subsidized

Project Outreach Esperanza, Inc

200 Esperanza Dr
Frankfort, KY
Accessible
Disabled Supportive Housing
Subsidized

Hickory Hills Manor

120 Marlowe Ct
Frankfort, KY
Subsidized

Kings Daughters Apartments

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

Project Outreach Seneca

529 Pawnee Trl
Frankfort, KY
Accessible
Disabled Supportive Housing
Subsidized

Project Outreach - Leawood

713 Leawood Dr
Frankfort, KY
Accessible
Disabled Supportive Housing
Subsidized

Prince Hall Village Apartments

1100 Prince Hall Vlg
Frankfort, KY
Subsidized

Franklin Place Apartments

126 Deepwood Dr
Frankfort, KY
Accessible
Disabled Supportive Housing
Subsidized

Other Housing Authorities located in Franklin County

Housing Authority Programs
Housing Authority of Frankfort Section 8 Housing Choice Voucher (HCV); Public Housing
Kentucky Housing Corporation Section 8 Housing Choice Voucher (HCV)

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. Franklin County features 596 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 333 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Franklin County.

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.1

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 $68,200

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 Franklin County HUD Rental Assistance in Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,350 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,900 $27,300 $30,700 $34,100 $36,850 $39,600 $42,300 $45,050
80% of Median $38,200 $43,650 $49,100 $54,550 $58,950 $63,300 $67,650 $72,050
Fair Market Rents in Franklin County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$493 $630 $749 $991 $1,193

Cities In Franklin County

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

City Listings Served By
Frankfort 18 The HUD funded Public Housing Agency that serves Frankfort is the Housing Authority of Frankfort.