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

Discover affordable housing in Stanford where there are 7+ 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.

Lincoln Terrace Apartments

120 Star Ave., Stanford, Kentucky 40484

Oakview Apartments

401 Oakview Road, Stanford, Kentucky 40484

Logans Trace Apartments

215 River Dr, Stanford, Kentucky 40484

Shea Villa Apartments

124 Shea Villa Ct, Stanford, Kentucky 40484

Stanford Greens

117 Herndon Drive, Stanford, Kentucky

Karp - Lincoln County

Cannonade Dr, Stanford, Kentucky 40484

Skyview Homes

115 Star Ave, Stanford, Kentucky 40484

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Stanford, Kentucky
$16.10/hour
$8.85 (+122%) more than Kentucky minimum wage and $8.85 (+122%) more than the Federal minimum wage.
Learn More About Stanford, Kentucky Affordable Housing ↓

What HUD offices serve Stanford, 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 Public Housing programs for Stanford, Kentucky.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Stanford, Kentucky.

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

How many renters live in Stanford, Kentucky?

The City of Stanford has 3,654 people living in 1,411 households.

There are 1,105 renters living in 503 renter households in this City. Renters make up 30.24 percent of the population living in Stanford.

What is the rental market like in Stanford, Kentucky?

There are an estimated 1,677 housing units in the Stanford area. Of these, 551 units are rental homes, making up 33 percent of the housing market. For every renter household in Stanford, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Stanford?

The rental vacancy rate in Stanford is 9 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 Stanford for each bedroom size?

Occupied Rental Units by Size in Stanford
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 101 129 254 6
Occupied Rental Units by Size in Stanford

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

Among renter households in this market, 32 percent have housing cost burden. Further, 13 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 Stanford

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 $686
Two BR $850
Three BR $1,028
Four BR $1,132
2024 Fair Market Rents in Stanford, Kentucky

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

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 93 92 percent
Two BR 95 74 percent
Rental Units Below FMR in Stanford, Kentucky

How many affordable rental units are in Stanford?

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

Federal Program Unit Count
Low Income Housing Tax Credit 100
Public Housing 50
Section 8 Project-Based Rental Assistance 113
USDA Section 515 Rural Rental Housing 72
Tracked Units by Federal Program in Stanford, Kentucky

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

Income Based Apartments in Stanford, Kentucky

Stanford features 235 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 Stanford, Kentucky

There are 4 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stanford.

Housing Choice Vouchers in Stanford, Kentucky

On average, Section 8 Housing Choice vouchers pay Stanford landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Stanford.

The maximum amount a voucher would pay on behalf of a low-income tenant in Stanford, Kentucky for a two-bedroom apartment is between $765 and $935.

Sourced from federal housing data and AffordableHousingOnline.com research.