How many renters live in Russell, Kentucky?
The City of Russell has people living in households.
There are renters living in renter households in this City. Renters make up 15.17 percent of the population living in Russell.
What is the rental market like in Russell, Kentucky?
There are an estimated housing units in the Russell area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Russell, Kentucky, there are 1.2 rental units.
What is the vacancy rate for rentals in Russell?
The rental vacancy rate in Russell is 17 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 Russell for each bedroom size?
Occupied Rental Units by Size in Russell
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 24 | 55 | 217 | 12 | 0 |
Occupied Rental Units by Size in Russell
A large number of apartments in Russell 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 Russell
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $793 to $1,431. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $793 |
| One BR | $815 |
| Two BR | $938 |
| Three BR | $1,236 |
| Four BR | $1,431 |
2024 Fair Market Rents in Russell, Kentucky
How many units are rented at Fair Market Rent (FMR) in Russell?
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 | 4 | 17 percent |
| One BR | 13 | 24 percent |
| Two BR | 167 | 77 percent |
Rental Units Below FMR in Russell, Kentucky
How many affordable rental units are in Russell?
Income Based Apartments in Russell, Kentucky
Russell features 0 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 Russell, Kentucky
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Russell.
Housing Choice Vouchers in Russell, Kentucky
On average, Section 8 Housing Choice vouchers pay Russell landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Russell.
The maximum amount a voucher would pay on behalf of a low-income tenant in Russell, Kentucky for a two-bedroom apartment is between $844 and $1,032.
Sourced from federal housing data and AffordableHousingOnline.com research.