About This Property
Austin Park Apartments, Ltd. contains 38 low-income units in Frankfort, Kentucky, consisting of 12 two-bedroom and 28 three-bedroom apartments. The property, placed in service in 1997, serves families and operates under 4% Low-Income Housing Tax Credit financing. Management and leasing information are available through the property contact.
Waitlist Information
Waitlist managed by Kentucky Housing Corporation-State Agency
The average wait time for the program, when open, could be three to five years.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Franklin 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 | $731 |
| 1 Bedroom | $831 |
| 2 Bedroom | $1,042 |
| 3 Bedroom | $1,373 |
| 4 Bedroom | $1,687 |
Income Limits - Franklin County, KY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,150
- Very Low (50%)
- $25,200
- Low (80%)
- $40,350
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,800
- Low (80%)
- $46,100
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,400
- Low (80%)
- $51,850
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,000
- Low (80%)
- $57,600
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,900
- Low (80%)
- $62,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,800
- Low (80%)
- $66,850
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,650
- Low (80%)
- $71,450
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,550
- Low (80%)
- $76,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,150 | $25,200 | $40,350 |
| 2 Persons | $17,420 | $28,800 | $46,100 |
| 3 Persons | $21,960 | $32,400 | $51,850 |
| 4 Persons | $26,500 | $36,000 | $57,600 |
| 5 Persons | $31,040 | $38,900 | $62,250 |
| 6 Persons | $35,580 | $41,800 | $66,850 |
| 7 Persons | $40,120 | $44,650 | $71,450 |
| 8 Persons | $44,660 | $47,550 | $76,050 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Frankfort, KY?+
The Fair Market Rent (FMR) for Franklin County, KY is: $731 (Studio), $831 (1BR), $1042 (2BR), $1373 (3BR), $1687 (4BR). Actual rent at subsidized properties like Austin Park Apartments, Ltd. is typically 30% of household income or less.
What size apartments are available at Austin Park Apartments, Ltd.?+
Austin Park Apartments, Ltd. offers the following unit types: 12 Two-Bedroom, 28 Three-Bedroom units, for a total of 38 units.
What are the income limits for affordable housing in Franklin County, KY?+
For a 4-person household in Franklin County, KY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,000, Low Income (80% AMI): $57,600. These limits are set by HUD and updated annually.
Who is eligible to live at Austin Park Apartments, Ltd.?+
Austin Park Apartments, Ltd. primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Austin Park Apartments, Ltd.?+
Austin Park Apartments, Ltd. is managed by . You can reach them at .
How do I apply for housing at Austin Park Apartments, Ltd.?+
Austin Park Apartments, Ltd. 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.
Is there a waitlist for Austin Park Apartments, Ltd.?+
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 is the price range for apartments in Frankfort, KY?+
Based on Fair Market Rent for Franklin County, the estimated price range is: 2-bedroom: $1042, 3-bedroom: $1373. Actual rent at Austin Park Apartments, Ltd. may be lower for income-eligible households.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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