Low Income Apartments and Affordable Housing For Rent in Lexington, KY

Discover affordable housing in Lexington where there are 84+ 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.

Christian Towers

1511 Versailles Rd, Lexington, Kentucky 40504

Gainesway Village Apartments

1245 Centre Pkwy, Lexington, Kentucky 40517

Walnut Hill

3716 Trent Cir, Lexington, Kentucky 40517

Central Christian Church Apartments

205 E Short St, Lexington, Kentucky 40507

Castlewood Prader - Willi Group Home

531 E Loudon Ave, Lexington, Kentucky 40505

Mt Tabor Townhouses

633 Mount Tabor Rd, Lexington, Kentucky 40517

Main Street Baptist Manor

428 Darby Creek Rd, Lexington, Kentucky 40509

Spindletop Apartments

166 Donabrook Ct, Lexington, Kentucky 40517

Emerson Center Apartments

2050 Garden Springs Dr, Lexington, Kentucky 40504

Eastridge Place

2800 Alumni Dr, Lexington, Kentucky 40517

Ashland Group Home

124 Cisco Rd, Lexington, Kentucky 40504

Aqueduct Place

1156 Mount Rushmore Way, Lexington, Kentucky 40515

Falcon Crest Apartments

1101 Centre Pkwy, Lexington, Kentucky 40517

Independence Homes Apartments

507 Rogers Road, Lexington, Kentucky 40505

St James Place

169 Deweese St, Lexington, Kentucky 40507

Meadowthorpe Senior Housing

1447 Antique Drive, Lexington, Kentucky 40511

Ballard Towers

Tower Plz, Lexington, Kentucky 40508

Virginia Place

Horsemans Ln, Lexington, Kentucky 40504

Chrysalis House Family Program

1586 Hill View Pl, Lexington, Kentucky 40504

Serenity Place

1524 Versailles Rd, Lexington, Kentucky 40504

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lexington, Kentucky
$15.04 (+207%) more than Kentucky minimum wage and $15.04 (+207%) more than the Federal minimum wage.
Learn More About Lexington, Kentucky Affordable Housing ↓

What HUD offices serve Lexington, 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, Homeownership Voucher, Moving to Work programs for Lexington, Kentucky.

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

How many renters live in Lexington, Kentucky?

The City of Lexington has 320,347 people living in 140,837 households.

There are 126,290 renters living in 64,788 renter households in this City. Renters make up 39.42 percent of the population living in Lexington.

What is the rental market like in Lexington, Kentucky?

There are an estimated 148,963 housing units in the Lexington area. Of these, 67,450 units are rental homes, making up 45 percent of the housing market. For every renter household in Lexington, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Lexington?

The rental vacancy rate in Lexington is 3 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 Lexington for each bedroom size?

Occupied Rental Units by Size in Lexington
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
2,738 22,309 23,259 12,619 3,608
Occupied Rental Units by Size in Lexington

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

Among renter households in this market, 54 percent have housing cost burden. Further, 28 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 Lexington

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $802 to $1,807. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $802
One BR $983
Two BR $1,177
Three BR $1,599
Four BR $1,807
2024 Fair Market Rents in Lexington, Kentucky

How many units are rented at Fair Market Rent (FMR) in Lexington?

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 1,336 49 percent
One BR 13,321 60 percent
Two BR 13,515 58 percent
Rental Units Below FMR in Lexington, Kentucky

How many affordable rental units are in Lexington?

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

Federal Program Unit Count
Low Income Housing Tax Credit 1,989
Public Housing 914
Section 8 Project-Based Rental Assistance 2,013
Section 202 Supportive Housing for the Elderly 108
Section 811 Supportive Housing for Persons with Disabilities 38
Tracked Units by Federal Program in Lexington, Kentucky

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

Income Based Apartments in Lexington, Kentucky

Lexington features 3,620 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 Lexington, Kentucky

There are 1,713 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lexington.

Housing Choice Vouchers in Lexington, Kentucky

On average, Section 8 Housing Choice vouchers pay Lexington landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Lexington.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lexington, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.

Sourced from federal housing data and AffordableHousingOnline.com research.