3501 Laredo Dr, Lexington, KY 40517
Waiting List Forecast: Likely Long or Closed
Verified for 2021 by Gene B. Glick Marketing, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Fairington Apartments is an affordable apartment community on the South side of Lexington, KY, offering one, two, and three bedroom apartment homes. Our community is a federally subsidized apartment community with rents and eligibility are determined by government regulations. Fairington Apartments of Lexington is located on Laredo Drive off of Tate's Creek and Redding Road. Transportation around Lexington is a breeze with stops on several Lex Tran bus routes. Fairington Apartments offers several community amenities, including multiple playgrounds and recreational area, a community center for events and activities, and 24-hour emergency maintenance service. The apartment homes at Fairington feature spacious closets, semi-private patios, and partially paid utilities. This community is managed by the Gene B. Glick Company.
This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Fairington of Lexington is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $18,800 / year | $21,450 / year | $24,860 / year | $30,000 / year | $35,140 / year | $40,280 / year | $45,420 / year | $50,560 / year |
| 50% AMI for LIHTC Units | $31,300 / year | $35,750 / year | $40,200 / year | $44,650 / year | $48,250 / year | $51,800 / year | $55,400 / year | $58,950 / year |
| 50% AMI for PBRA Units | $31,300 / year | $35,750 / year | $40,200 / year | $44,650 / year | $48,250 / year | $51,800 / year | $55,400 / year | $58,950 / year |
| 80% AMI for PBRA Units | $50,050 / year | $57,200 / year | $64,350 / year | $71,450 / year | $77,200 / year | $82,900 / year | $88,600 / year | $94,350 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Fairington of Lexington have a waiting list?
Fairington of Lexington probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Fairington of Lexington?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Fairington of Lexington?
Fairington of Lexington is managed by Gene B. Glick Company, Inc headquartered in Indianapolis, IN.
In addition to Fairington of Lexington, how many other affordable housing properties (and units) are there in Lexington?
In addition to Fairington of Lexington, we list 176 other affordable properties in Lexington. Learn about these properties here. Our data research shows that there are a total of 5333 affordable units in Lexington.
1601 Villa Medici Pass, Lexington, Kentucky 40509
179 Market St, Lexington, Kentucky 40507
Know your rights as a Section 8 tenant.
Some states and local governments have laws that protect renters with a Section 8 voucher who are looking for an available unit. Check your local laws.Kimberly Leighton says:
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