What HUD offices serve Russell Springs, 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 Russell Springs.
How many renters live in Russell Springs, Kentucky?
The City of Russell Springs has people living in households.
There are renters living in renter households in this City. Renters make up 42.2 percent of the population living in Russell Springs.
What is the rental market like in Russell Springs, Kentucky?
There are an estimated housing units in the Russell Springs area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Russell Springs, Kentucky, there are 1.32 rental units.
What is the vacancy rate for rentals in Russell Springs?
The rental vacancy rate in Russell Springs is 18 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 Springs for each bedroom size?
Occupied Rental Units by Size in Russell Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 137 | 172 | 157 | 11 |
Occupied Rental Units by Size in Russell Springs
A large number of apartments in Russell Springs 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 Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,132. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $616 |
| One BR | $647 |
| Two BR | $850 |
| Three BR | $1,043 |
| Four BR | $1,132 |
2024 Fair Market Rents in Russell Springs, Kentucky
How many units are rented at Fair Market Rent (FMR) in Russell Springs?
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 | 133 | 97 percent |
| Two BR | 170 | 99 percent |
Rental Units Below FMR in Russell Springs, Kentucky
How many affordable rental units are in Russell Springs?
There are a variety of federal affordable housing programs serving households in Russell Springs, Kentucky including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Russell Springs, Kentucky
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Russell Springs, Kentucky
Russell Springs features 128 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 Springs, Kentucky
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Russell Springs.
Housing Choice Vouchers in Russell Springs, Kentucky
On average, Section 8 Housing Choice vouchers pay Russell Springs landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Russell Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Russell Springs, Kentucky for a two-bedroom apartment is between $765 and $935.
Sourced from federal housing data and AffordableHousingOnline.com research.