What HUD offices serve Martin, 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.
Go to the Kentucky Public Housing and Low-Income Apartments Waiting Lists page for openings near Martin.
How many renters live in Martin, Kentucky?
The City of Martin has 410 people living in 217 households.
There are 340 renters living in 182 renter households in this City. Renters make up 82.93 percent of the population living in Martin.
What is the rental market like in Martin, Kentucky?
There are an estimated 321 housing units in the Martin area. Of these, 213 units are rental homes, making up 66 percent of the housing market. For every renter household in Martin, Kentucky, there are 1 rental units.
What is the vacancy rate for rentals in Martin?
The rental vacancy rate in Martin is 12 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Martin for each bedroom size?
Occupied Rental Units by Size in Martin
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 17 | 38 | 42 | 66 | 9 |
Occupied Rental Units by Size in Martin
A large number of apartments in Martin 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 Martin are overburdened by housing costs?
Among renter households in this market, 48 percent have housing cost burden. Further, 18 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 Martin
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $636 to $1,169. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $636 |
| One BR | $668 |
| Two BR | $878 |
| Three BR | $1,062 |
| Four BR | $1,169 |
2024 Fair Market Rents in Martin, Kentucky
How many units are rented at Fair Market Rent (FMR) in Martin?
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 | 17 | 100 percent |
| One BR | 35 | 92 percent |
| Two BR | 39 | 93 percent |
Rental Units Below FMR in Martin, Kentucky
How many affordable rental units are in Martin?
There are a variety of federal affordable housing programs serving households in Martin, Kentucky including the following:
| Federal Program | Unit Count |
| Public Housing | 153 |
Tracked Units by Federal Program in Martin, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Martin, Kentucky
Martin features 126 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 Martin, Kentucky
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Martin.
Housing Choice Vouchers in Martin, Kentucky
On average, Section 8 Housing Choice vouchers pay Martin landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Martin.
The maximum amount a voucher would pay on behalf of a low-income tenant in Martin, Kentucky for a two-bedroom apartment is between $790 and $966.
Sourced from federal housing data and AffordableHousingOnline.com research.
