Low Income Apartments and Affordable Housing For Rent in Frankfort, OH

Discover affordable housing in Frankfort where there are 4+ 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.

Frankfort Place

243 Maple Dr, Frankfort, Ohio 45628

Tanglewood Apartments

440 N Main St, Frankfort, Ohio 45628

Hokolesqua Apartments

3658 County Road 550, Frankfort, Ohio 45628

Cac of Fayette County - N - B - 02 - 520 - 2

Frankfort Pl, Frankfort, Ohio 45628

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Frankfort, Ohio
$17.69/hour
$10.69 (+153%) more than Ohio minimum wage and $10.44 (+144%) more than the Federal minimum wage.
Learn More About Frankfort, Ohio Affordable Housing ↓

What HUD offices serve Frankfort, Ohio?

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), Public Housing programs for Frankfort, Ohio.

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

How many renters live in Frankfort, Ohio?

The City of Frankfort has 1,231 people living in 479 households.

There are 327 renters living in 129 renter households in this City. Renters make up 26.56 percent of the population living in Frankfort.

What is the rental market like in Frankfort, Ohio?

There are an estimated 536 housing units in the Frankfort area. Of these, 142 units are rental homes, making up 26 percent of the housing market. For every renter household in Frankfort, Ohio, there are 1 rental units.

What is the vacancy rate for rentals in Frankfort?

The rental vacancy rate in Frankfort 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 Frankfort for each bedroom size?

Occupied Rental Units by Size in Frankfort
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 43 60 26 0
Occupied Rental Units by Size in Frankfort

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

Among renter households in this market, 51 percent have housing cost burden. Further, 14 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 Frankfort

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $667 to $1,244. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $667
One BR $768
Two BR $934
Three BR $1,155
Four BR $1,244
2024 Fair Market Rents in Frankfort, Ohio

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

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 39 91 percent
Two BR 34 57 percent
Rental Units Below FMR in Frankfort, Ohio

How many affordable rental units are in Frankfort?

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

Federal Program Unit Count
Low Income Housing Tax Credit 56
Section 8 Project-Based Rental Assistance 20
Section 202 Supportive Housing for the Elderly 15
USDA Section 515 Rural Rental Housing 60
Tracked Units by Federal Program in Frankfort, Ohio

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

Income Based Apartments in Frankfort, Ohio

Frankfort features 80 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 Frankfort, Ohio

There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Frankfort.

Housing Choice Vouchers in Frankfort, Ohio

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Frankfort, Ohio for a two-bedroom apartment is between $841 and $1,027.

Sourced from federal housing data and AffordableHousingOnline.com research.