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

Discover affordable housing in Graves County where there are 18+ 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.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Graves County, Kentucky
$8.85 (+122%) more than Kentucky minimum wage and $8.85 (+122%) more than the Federal minimum wage.
Learn More About Graves County, Kentucky Affordable Housing ↓

How many renters live in Graves County, Kentucky?

The County of Graves County has 36,701 people living in 14,304 households.

There are 8,922 renters living in 3,605 renter households in this County. Renters make up 24.31 percent of the population living in Graves County.

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

There are an estimated 16,526 housing units in the Graves County area. Of these, 3,677 units are rental homes, making up 22 percent of the housing market. For every renter household in Graves County, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Graves County?

The rental vacancy rate in Graves County is 1 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 Graves County for each bedroom size?

Occupied Rental Units by Size in Graves County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
75 641 1,498 1,152 224
Occupied Rental Units by Size in Graves County

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

Among renter households in this market, 38 percent have housing cost burden. Further, 20 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 Graves County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,442. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $616
One BR $647
Two BR $850
Three BR $1,198
Four BR $1,442
2024 Fair Market Rents in Graves County, Kentucky

How many units are rented at Fair Market Rent (FMR) in Graves 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 70 93 percent
One BR 461 72 percent
Two BR 990 66 percent
Rental Units Below FMR in Graves County, Kentucky

How many affordable rental units are in Graves County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 120
Public Housing 222
Section 8 Project-Based Rental Assistance 255
Section 202 Supportive Housing for the Elderly 24
Section 811 Supportive Housing for Persons with Disabilities 12
USDA Section 515 Rural Rental Housing 147
Tracked Units by Federal Program in Graves County, Kentucky

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

Income Based Apartments in Graves County, Kentucky

Graves County features 525 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 Graves County, Kentucky

There are 38 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Graves County.

Housing Choice Vouchers in Graves County, Kentucky

On average, Section 8 Housing Choice vouchers pay Graves County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Graves County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Graves County, Kentucky for a two-bedroom apartment is between $765 and $935.

Sourced from federal housing data and AffordableHousingOnline.com research.