Low Income Apartments and Affordable Housing For Rent in Woodford County, KY

Discover affordable housing in Woodford County 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.

Versailles School Apartments

124 Macey Avenue, Versailles, Kentucky 40383

Arbor Place Townhomes

220 Clifton Rd, Versailles, Kentucky 40383

Midway School Apartments

510 S Winter St, Midway, Kentucky 40347

Margaret Hall Manor

117 Elm St, Versailles, Kentucky 40383

Willow Oaks Apartments

69 Woodson Dr, Versailles, Kentucky 40383

Ryne Creek Apts.

404 Ryne Ct, Versailles, Kentucky

Clifton, Cleveland, Berry, High, Princess Cr

122 Berry Ave, Versailles, Kentucky 40383

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Woodford County, Kentucky
$22.29/hour
$15.04 (+207%) more than Kentucky minimum wage and $15.04 (+207%) more than the Federal minimum wage.
Learn More About Woodford County, Kentucky Affordable Housing ↓

What HUD offices serve Woodford County, 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 Section 8 Housing Choice Voucher (HCV) programs for Woodford County, Kentucky.

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

How many renters live in Woodford County, Kentucky?

The County of Woodford County has 26,886 people living in 10,493 households.

There are 7,555 renters living in 2,958 renter households in this County. Renters make up 28.1 percent of the population living in Woodford County.

What is the rental market like in Woodford County, Kentucky?

There are an estimated 11,501 housing units in the Woodford County area. Of these, 3,178 units are rental homes, making up 28 percent of the housing market. For every renter household in Woodford County, Kentucky, there are 1 rental units.

What is the vacancy rate for rentals in Woodford County?

The rental vacancy rate in Woodford County is 7 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 Woodford County for each bedroom size?

Occupied Rental Units by Size in Woodford County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
22 374 1,027 1,299 189
Occupied Rental Units by Size in Woodford County

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

Among renter households in this market, 38 percent have housing cost burden. Further, 11 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 Woodford County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $802 to $1,807. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $802
One BR $983
Two BR $1,177
Three BR $1,599
Four BR $1,807
2024 Fair Market Rents in Woodford County, Kentucky

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

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 16 73 percent
One BR 257 69 percent
Two BR 839 82 percent
Rental Units Below FMR in Woodford County, Kentucky

How many affordable rental units are in Woodford County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 75
Public Housing 155
Section 8 Project-Based Rental Assistance 15
USDA Section 515 Rural Rental Housing 92
Tracked Units by Federal Program in Woodford County, Kentucky

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

Income Based Apartments in Woodford County, Kentucky

Woodford County features 315 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 Woodford County, Kentucky

There are 85 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Woodford County.

Housing Choice Vouchers in Woodford County, Kentucky

On average, Section 8 Housing Choice vouchers pay Woodford County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Woodford County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Woodford County, Kentucky for a two-bedroom apartment is between $1,059 and $1,295.

Sourced from federal housing data and AffordableHousingOnline.com research.