About This Property
Falcon Crest Apartments is a 72-unit residential community in Lexington, Kentucky that has served families since 2009. The property contains three-bedroom units and operates as a low-income housing development funded through the 9% Low-Income Housing Tax Credit program. A non-profit organization owns and manages the community.
Waitlist Information
Waitlist managed by Housing Authority of Lexington
Wait list is open for ONE (1) bedroom units at the Ballard and Connie Griffith Apartments for elderly persons (62 years of age or older) households.
The LHA Section 8 waiting list is currently closed.
Waitlist data provided by section8waitlist.org
Updated April 18, 2026
Property Details
Fair Market Rent - Fayette County, KY
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $802 |
| 1 Bedroom | $983 |
| 2 Bedroom | $1,177 |
| 3 Bedroom | $1,599 |
| 4 Bedroom | $1,807 |
Income Limits - Fayette County, KY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,900
- Very Low (50%)
- $26,450
- Low (80%)
- $42,300
- Extremely Low (30%)
- $18,150
- Very Low (50%)
- $30,200
- Low (80%)
- $48,350
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,000
- Low (80%)
- $54,400
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $37,750
- Low (80%)
- $60,400
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $40,800
- Low (80%)
- $65,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $43,800
- Low (80%)
- $70,100
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $46,850
- Low (80%)
- $74,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $49,850
- Low (80%)
- $79,750
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,900 | $26,450 | $42,300 |
| 2 Persons | $18,150 | $30,200 | $48,350 |
| 3 Persons | $21,960 | $34,000 | $54,400 |
| 4 Persons | $26,500 | $37,750 | $60,400 |
| 5 Persons | $31,040 | $40,800 | $65,250 |
| 6 Persons | $35,580 | $43,800 | $70,100 |
| 7 Persons | $40,120 | $46,850 | $74,900 |
| 8 Persons | $44,660 | $49,850 | $79,750 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Lexington, KY?+
The Fair Market Rent (FMR) for Fayette County, KY is: $802 (Studio), $983 (1BR), $1177 (2BR), $1599 (3BR), $1807 (4BR). Actual rent at subsidized properties like Falcon Crest Apartments - Lexington is typically 30% of household income or less.
What size apartments are available at Falcon Crest Apartments - Lexington?+
Falcon Crest Apartments - Lexington offers the following unit types: 72 Three-Bedroom units, for a total of 72 units.
How do I apply for housing at Falcon Crest Apartments - Lexington?+
Falcon Crest Apartments - Lexington is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Who is eligible to live at Falcon Crest Apartments - Lexington?+
Falcon Crest Apartments - Lexington primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Is there a waitlist for Falcon Crest Apartments - Lexington?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What are the income limits for affordable housing in Fayette County, KY?+
For a 4-person household in Fayette County, KY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $37,750, Low Income (80% AMI): $60,400. These limits are set by HUD and updated annually.
What is the price range for apartments in Lexington, KY?+
Based on Fair Market Rent for Fayette County, the estimated price range is: 3-bedroom: $1599. Actual rent at Falcon Crest Apartments - Lexington may be lower for income-eligible households.
Who manages Falcon Crest Apartments - Lexington?+
Falcon Crest Apartments - Lexington is managed by . You can reach them at .
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Falcon Crest Apartments - Lexington
Lexington
Lexington, KY
1 UnitsTrent Senior Village
Lexington, KY
54 Units
Falcon Crest Apartments
Lexington, KY
24 Units
Bluegrass Phase Iii
Lexington, KY
4 UnitsFalcon Crest Apartments - Lexington
Lexington, KY
72 UnitsTrent Senior Village
Lexington, KY
54 Units