According to the U.S. Census Bureau, around 30 percent of Kentuckians (about 1.1 million people) live in unaffordable housing. Typically, housing is considered unaffordable when housing costs – mortgage or rent plus utilities – amount to more than 30 percent of a household’s income. There are a number of federal and state initiatives that attempt to make housing more affordable.
The federal government plays a large role in helping states and localities provide more affordable housing. The U.S. Department of Housing and Urban Development (HUD) administers a number of programs, including Community Development Block Grants (CDBG), Home Investment Partnerships (HOME), Housing Choice Vouchers (Section 8), Emergency Shelter Grants (ESG) and others.
The Kentucky Housing Corporation (KHC) is a self-supporting public corporation of the Commonwealth of Kentucky. KHC administers a number of assistance programs including down payment assistance, home ownership counseling, rental assistance and other programs designed to make dependable housing available to all Kentuckians.