According to the U.S. Census Bureau, around one-quarter (23%) of Kentuckians (about 1.04 million people) live in unaffordable housing. Typically, housing is considered unaffordable when housing costs – mortgage or rent plus utilities – amount to more than 30% of a household’s income. Several federal and state initiatives 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 many 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) operates as a self-supporting public corporation of the Commonwealth of Kentucky. KHC administers several assistance programs including down payment assistance, home ownership counseling, rental assistance, and other programs designed to make dependable housing available to all Kentuckians.