Renting · Section 8
Data from November 2026
Renting in Franklin County, Kentucky
Franklin County has a HUD fair market rent of $1,145 a month for 2 bedrooms (Fiscal year 2027). Renter households here pay a typical rent of $967 a month (Average 2020–2024). Paying the fair market rent without going over 30% of income takes $22.02 an hour, full time.
Four numbers to start with
- Fair market rent, 2 bedrooms
- $1,145
- a month, HUD, Fiscal year 2027
- About the same as in Kentucky
- Typical rent
- $967
- a month, Census, Average 2020–2024
- About the same as in Kentucky
- Wage needed
- $22.02
- an hour, 2 bedrooms
- Or $45,800 a year, to spend no more than 30% of income on rent.
- Rent-burdened households
- 44%
- spend 30% or more of income on rent
- 4% less than in Kentucky
Only here
Renting in Franklin County: what sets it apart
What this place has that others do not, from public data, most unusual first.
-
Franklin County has the 12th lowest homeownership rate of the 120 counties in Kentucky (64%).
Sources: U.S. Census Bureau (Average 2020–2024).
Fair market rent
What HUD sets for each size
Every year HUD (the U.S. Department of Housing and Urban Development) publishes a Fair Market Rent (FMR) for each home size in Franklin County. It is used to work out how much a Section 8 voucher covers. The table shows what you need to earn to pay it without spending more than 30% of income.
The fair market rent covers rent plus basic utilities, except the phone. HUD generally sets it at the 40th percentile: 4 in 10 standard-quality homes rented recently cost less. 24 CFR §888.113(a)
According to Zillow (ZORI), the typical asking rent in Franklin County was $989 a month in September 2026: about the same as 12 months ago. It is an index of market listings, not a HUD limit. Zillow data
| Size | Fair rent per month | Hourly wage | Income needed per year |
|---|---|---|---|
| Studio | $797 | $15.33 | $31,880 |
| 1 bedroom | $909 | $17.48 | $36,360 |
| 2 bedrooms | $1,145 | $22.02 | $45,800 |
| 3 bedrooms | $1,466 | $28.19 | $58,640 |
| 4 bedrooms | $1,811 | $34.83 | $72,440 |
HUD area: Franklin County, KY. Source: HUD, Fiscal year 2027
By ZIP code
The fair market rent for your ZIP code
HUD also publishes fair market rents by ZIP code (Small Area FMRs) for 6 ZIP codes in Franklin County (Fiscal year 2027). Type yours to see it.
Where HUD designates these areas, or where the housing agency chooses to use them, the voucher is figured on the ZIP code's rent instead of the county's. Ask your agency which one it uses. 24 CFR §982.503(a)(1)
| 40601 | Anderson County, KY | $820 | $940 | $1,180 | $1,510 | $1,870 |
|---|---|---|---|---|---|---|
| 40601 | Franklin County, KY | $820 | $940 | $1,180 | $1,510 | $1,870 |
| 40601 | Lexington-Fayette, KY | $820 | $940 | $1,180 | $1,510 | $1,870 |
| 40601 | Louisville, KY-IN | $820 | $940 | $1,180 | $1,510 | $1,870 |
| 40601 | Owen County, KY | $820 | $940 | $1,180 | $1,510 | $1,870 |
| 40601 | Shelby County, KY | $820 | $940 | $1,180 | $1,510 | $1,870 |
- 40601 · Anderson County, KY $1,180$1,510
- 40601 · Franklin County, KY $1,180$1,510
- 40601 · Lexington-Fayette, KY $1,180$1,510
- 40601 · Louisville, KY-IN $1,180$1,510
- 40601 · Owen County, KY $1,180$1,510
- 40601 · Shelby County, KY $1,180$1,510
Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) (external site)
Rent burden
How many households spend too much
HUD counts rent as a burden when it reaches 30% of income or more. In Franklin County, 44% of renter households are in that position; in Kentucky, 45%, and nationwide, 51% (Average 2020–2024, Census).
Paying too much rent leaves little for food, transportation and savings. If that is you, the agencies below can guide you for free.
44%
of renter households spend 30% or more of their income on rent.
8,072 households rent in Franklin County
- Spend half or more of their income 22%
- Spend 30% or more, but less than half 22%
- Spend less than 30% 56%
Compared with the state and the country
- Franklin 44%
- Kentucky 45%
- United States 51%
Low-income apartments
Low-income apartments in Franklin County
HUD lists 18 properties with homes for low-income households in Franklin County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest.
- with tax credits (LIHTC)
- 11
- HUD-assisted
- 6
- public housing
- 1
1,017 homes in all; 944 of them low-income, according to HUD.
- Leestown Terrace Public housing 216 W 2nd St, Frankfort 40601 213 homes, 207 low-income · Run by Housing Authority of Frankfort · Average payment: $373 a month · Average wait: 7 months · (502) 223-2148
- Prince Hall Village Apartments HUD-assisted 1100 Prince Hall Vlg, Frankfort 40601 100 low-income homes · For families · (502) 223-3236
- Woodside Park HUD-assisted 1335 Louisville Rd, Frankfort 40601 97 homes, 96 low-income · For families · (502) 227-7950
- Cottages of Frankfort Tax credit (LIHTC) Cardwell Lane, Frankfort 40601 96 low-income homes · 2 bd: 86 · 3 bd: 10 · In service since 2000 · For older adults
- Hickory Hills Manor HUD-assisted 120 Marlowe Ct, Frankfort 40601 101 homes, 75 low-income · For families · (502) 223-1177
- Kings Daughters Apartments HUD-assisted 220 Hanna Pl, Frankfort 40601 61 homes, 60 low-income · For older adults · (502) 223-2141
- Bridgeport South Frankfort Revitalization 2014 Tax credit (LIHTC) Bridgeport Road, Frankfort 40601 46 low-income homes · 2 bd: 19 · 3 bd: 27 · In service since 2016 · For families
- Frankfort Apartments II Tax credit (LIHTC) By-Pass Plaza DR., Frankfort 40601 44 low-income homes · 1 bd: 4 · 2 bd: 5 · 3 bd: 10 · 4 bd: 25 · In service since 1998
- Sarah Apartments Tax credit (LIHTC) Cardwell LN., Frankfort 40601 40 low-income homes · 1 bd: 4 · 2 bd: 36 · In service since 2002 · For families
- Austin Park Apartments, LTD. Tax credit (LIHTC) Bypass Plaza DR., Frankfort 40601 38 low-income homes · 2 bd: 12 · 3 bd: 28 · In service since 1997 · For families
- Quintin Court of Frankfort Tax credit (LIHTC) Schenkel Lane, Frankfort 40601 36 low-income homes · 1 bd: 16 · 2 bd: 20 · In service since 2015 · For families
- Emily Apartments Tax credit (LIHTC) Brighton Park BLVD., Frankfort 40601 32 low-income homes · 1 bd: 28 · 2 bd: 4 · In service since 2001 · For older adults
- Cottages of Frankfort II Tax credit (LIHTC) Cardwell Lane, Frankfort 40601 24 low-income homes · 1 bd: 24 · In service since 2005 · For older adults
- Kirkland Fields - Fka East Main Project Tax credit (LIHTC) East Main ST., Frankfort 40601 20 low-income homes · 2 bd: 20 · In service since 2001 · For families
- 35 Ashwood CT Tax credit (LIHTC) 35 Ashwood Ct, Frankfort 40601 26 homes, 18 low-income · In service since 1991
- Franklin Place Apartments HUD-assisted 126/128 Deepwood Drive, Frankfort 40601 13 homes, 12 low-income · For people with disabilities · (502) 227-8879
- Austin Park Apts, LTD Tax credit (LIHTC) 315 Bypass Plaza Dr, Frankfort 40601 30 homes
- Kentucky Housing Corporation HUD-assisted 1231 Louisville Rd, Frankfort 40601 (502) 564-7630
Source: HUD, retrieved November 6, 2026. LIHTC database, updated May 14, 2025; Assisted multifamily properties, updated October 23, 2026; Public housing developments, updated October 23, 2026.
Section 8
The Section 8 voucher in Franklin County
The Housing Choice Voucher (Section 8) pays part of your rent on a home you choose. Your public housing agency runs it. 2 agencies serve in Franklin County. Here is what the rules say:
The rules, with their source
-
You apply at the public housing agency. If you qualify, your name usually goes on a waiting list. Applicants must be U.S. citizens or noncitizens with eligible status as HUD defines it. Source: HUD
-
Generally, your family must have very low income: no more than 50% of the area median income, by family size (the middle column of the table). Source: 24 CFR §5.603, §982.201(b)
-
Each year, at least 75% of the families an agency admits from its list must have extremely low income (the 30% column). Source: 24 CFR §982.201(b)(2)
-
If the rent is below the payment standard, the family generally pays 30% of its adjusted monthly income. If it is above, the family pays more. Source: 24 CFR §982.1(a)(3)
-
When you move in, if the rent is above the payment standard, your share cannot go over 40% of your adjusted monthly income. Source: 24 CFR §982.508
-
Each agency sets a payment standard for each size. Without asking HUD, it can go from 90% to 110% of the fair market rent. Source: 24 CFR §982.503(b), (c)
| People | Extremely low (30%) | Very low (50%) | Low |
|---|---|---|---|
| 1 person | $19,400 | $32,250 | $51,600 |
| 2 people | $22,150 | $36,850 | $59,000 |
| 3 people | $27,320 | $41,450 | $66,350 |
| 4 people | $33,000 | $46,050 | $73,700 |
| 5 people | $38,680 | $49,750 | $79,600 |
| 6 people | $44,360 | $53,450 | $85,500 |
| 7 people | $50,040 | $57,150 | $91,400 |
| 8 people | $55,720 | $60,800 | $97,300 |
Area median income: $92,100. HUD income limits by family size, Fiscal year 2026. Area: Franklin County, KY. Source: HUD, Fiscal year 2026
Possible payment standard
- Studio $717 – $877
- 1 bedroom $818 – $1,000
- 2 bedrooms $1,031 – $1,260
- 3 bedrooms $1,319 – $1,613
- 4 bedrooms $1,630 – $1,992
The range the rule allows: 90% to 110% of the county's fair market rent. Your agency publishes its own.
Housing agencies that serve this place
- Kentucky Housing Corporation-State Agency Section 8 vouchers · 6,221 vouchers (502) 564-7630 Kentucky Housing Corporation-State Agency: mbsmith@kyhousing.org
- Housing Authority of Frankfort Public housing and Section 8 vouchers · 484 vouchers · 239 public housing units (502) 223-2148 Housing Authority of Frankfort: jennifer.oberlin@haof.org
Housing agencies in Kentucky Source: HUD, Retrieved November 6, 2026
Your rights as a tenant in Kentucky
What Kentucky law says about deposits, notices and eviction, with the citation for each rule.
See your rights, rule by ruleCompare these rules with other states →
A summary of state law, not legal advice. Cities may have additional rules.
- If I fall behind on rent, what notice must I get?
- 7 days
- KRS 383.660(2)
- Only a court order can remove youKRS 383.690
- Protection from retaliationKRS 383.705(1)
- Repair and deduct from the rentKRS 383.635(1)
Help
Where to get help with rent in Franklin County
These are the nearest HUD-approved agencies. They counsel for free or at low cost.
-
Reach, Inc.
733 Red Mile Rd, Lexington · 23 miles away · Spanish
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
-
Community Ventures Corporation
1450 N Broadway, Lexington · 24 miles away
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
-
Apprisen - Lexington
3499 Blazer Pkwy, Lexington · 29 miles away
- Mortgage delinquency and default
- Budget and financial counseling
- and 2 more
Tool
How much cash do you need to move in?
It starts with the 2-bedroom fair market rent in Franklin County. Change the rent, the deposit and the fees to yours: the numbers stay in your browser.
Count power on top of the rent: in Kentucky, the average home bill was $134 a month in 2024 (EIA). See electricity and gas costs
Your move
We use the place's fair market rent and the state's deposit rule.
Adjust advanced details
Let's do the math
Cash to move in
$2,290
What you need before you get the keys.
What adds up
- First month
- $1,145
- Security deposit
- $1,145
- Total
- $2,290
When you'll have it
Enter what you can set aside each month to see how long it takes.
What helps
- Ask for a receipt for every payment and keep a copy of the lease.
- On move-in day, walk through the home and take dated photos.
- Never send money for a home you haven't seen or a lease you haven't read.
This is a planning estimate, not a price. What you are asked for depends on the landlord, your lease and your state's and city's rules. It is not legal advice.
Frequently asked questions
What is the fair market rent in Franklin County?
According to HUD (Fiscal year 2027): Studio: $797; 1 bedroom: $909; 2 bedrooms: $1,145; 3 bedrooms: $1,466; 4 bedrooms: $1,811. It covers rent plus basic utilities, except the phone.
How much do you need to earn to rent in Franklin County?
Paying the 2-bedroom fair market rent ($1,145) without spending more than 30% of income takes $22.02 an hour full time, or $45,800 a year.
Who qualifies for Section 8 in Franklin County?
Generally, families with very low income: no more than 50% of the area median income. For 4 people, HUD's limit here is $46,050 a year (Fiscal year 2026). The family usually pays 30% of its adjusted monthly income. You apply at the housing agency.
How much does Section 8 pay in Franklin County?
The voucher pays up to your housing agency's payment standard, minus your share. The rule lets the agency set it between 90% and 110% of the fair market rent: for 2 bedrooms here, between $1,031 and $1,260 a month. Your agency publishes its figure.
How many low-income apartments are there in Franklin County?
HUD lists 18 properties with homes for low-income households in Franklin County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest. For tax-credit apartments and HUD-assisted buildings, you apply directly at the building's management office. They tell you whether units are open and how to apply; HUD does not have that information.
How many households spend too much on rent in Franklin County?
HUD counts rent as a burden when it reaches 30% of income or more. In Franklin County, 44% of renter households are in that position; in Kentucky, 45%, and nationwide, 51% (Average 2020–2024, Census).