What HUD offices serve Olive Hill, 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 Olive Hill.
How many renters live in Olive Hill, Kentucky?
The City of Olive Hill has people living in households.
There are renters living in renter households in this City. Renters make up 26.54 percent of the population living in Olive Hill.
What is the rental market like in Olive Hill, Kentucky?
There are an estimated housing units in the Olive Hill area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Olive Hill, Kentucky, there are 1.13 rental units.
What is the vacancy rate for rentals in Olive Hill?
The rental vacancy rate in Olive Hill is 11 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 Olive Hill for each bedroom size?
Occupied Rental Units by Size in Olive Hill
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 75 | 58 | 78 | 23 |
Occupied Rental Units by Size in Olive Hill
A large number of apartments in Olive Hill have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Olive Hill
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $643 to $1,132. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $643 |
| One BR | $647 |
| Two BR | $850 |
| Three BR | $1,128 |
| Four BR | $1,132 |
2024 Fair Market Rents in Olive Hill, Kentucky
How many units are rented at Fair Market Rent (FMR) in Olive Hill?
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 |
| One BR | 64 | 85 percent |
| Two BR | 52 | 90 percent |
Rental Units Below FMR in Olive Hill, Kentucky
How many affordable rental units are in Olive Hill?
There are a variety of federal affordable housing programs serving households in Olive Hill, Kentucky including the following:
| Federal Program | Unit Count |
| Public Housing | |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Olive Hill, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Olive Hill, Kentucky
Olive Hill features 40 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 Olive Hill, Kentucky
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Olive Hill.
Housing Choice Vouchers in Olive Hill, Kentucky
On average, Section 8 Housing Choice vouchers pay Olive Hill landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Olive Hill.
The maximum amount a voucher would pay on behalf of a low-income tenant in Olive Hill, Kentucky for a two-bedroom apartment is between $765 and $935.
Sourced from federal housing data and AffordableHousingOnline.com research.