Albany Commons Apartments — Income-Restricted Housing in Frankfort, KY 40602
Albany Commons Street, Albany, KY 40602
24 units · 1 BR
How to apply
- No phone is listed. Try visiting the property or asking the city housing office how to apply.
- These records do not show openings — call to confirm vacancies and waiting lists.
At this building
- Opened
- 2010
- Income limit
- 50% AMI
- Bedrooms
- 24 1 bedroom
Map loads here…
This buildingNearbyOpen a pin for the building name.
Nearby income-restricted buildings
The Pines at Cumberland
700 E Cumberland Stret, Albany, KY 40602
0 mi away
24 units · 1–2 BR
- 1 vacant unit reported (Oct 2026) — call to confirm
Hickory Hills Manor
120 Marlowe Ct, Frankfort, KY 40601
2.7 mi away
101 units · 75 income-restricted · 1–3 BR
Leestown Terrace
216 W 2nd St, Frankfort, KY 40601
2.7 mi away
207 units · 1–3 BR
- Apply through Housing Authority of Frankfort
- Residents waited about 7 months to move in (HUD, Oct 2026)
Kings Daughters Apartments
220 Hanna Pl, Frankfort, KY 40601
2.7 mi away
61 units · 60 income-restricted · 1 BR
Prince Hall Village Apartments
1100 Prince Hall Village, Frankfort, KY 40601
2.9 mi away
100 units · 1–3 BR
Rents and income limits in 40602
- Fair market rent, 2 bedrooms
- $1,150/mo
- Income needed to pay it at 30% of income
- $46,000/yr
Income limits (2026)
Franklin County, KY area · median family income $92,100. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $19,400 | $32,250 | $51,600 |
| 2 | $22,150 | $36,850 | $59,000 |
| 3 | $27,320 | $41,450 | $66,350 |
| 4 | $33,000 | $46,050 | $73,700 |
| 5 | $38,680 | $49,750 | $79,600 |
| 6 | $44,360 | $53,450 | $85,500 |
| 7 | $50,040 | $57,150 | $91,400 |
| 8 | $55,720 | $60,800 | $97,300 |
Section 8 vouchers: up to the 50% limit, and most go to households under 30%. Public housing: up to 80%. Tax-credit apartments: usually up to 60% of median income, between the 50% and 80% columns.
Fair market rents (2027)
HUD's estimate of rent plus utilities for a modest home. Housing authorities set Section 8 voucher limits from it.
| Size | 40602 | Wider area |
|---|---|---|
| Studio | $800 | $797 |
| 1 bedroom | $910 | $909 |
| 2 bedrooms | $1,150 | $1,145 |
| 3 bedrooms | $1,470 | $1,466 |
| 4 bedrooms | $1,820 | $1,811 |
Wider area = Franklin County, KY. Two-bedroom fair market rents in 4 nearby ZIPs range from $1,180 (40601) to $1,290 (40347).
Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures). Each program and building can set its own limits — confirm with the property.
Estimate your Section 8 rent share
Project-based Section 8 is on the buildings above. A Housing Choice Voucher is different: you apply with the housing authority, then find a landlord who takes it. Your share of rent is based on income — not always 30%. The calculator uses 40602's fair market rent.
Estimate your Section 8 rent share for 40602Frequently Asked Questions
How do I apply to Albany Commons Apartments?
No phone is listed for Albany Commons Apartments. Try the city housing office or, for USDA rural properties, USDA's Multifamily Housing search. These records do not show openings.
Is Albany Commons Apartments Section 8 housing?
Albany Commons Apartments is listed as income-restricted housing in Frankfort, KY 40602 (lihtc). It is not labeled as project-based Section 8 in this file. Call to ask which programs they run.
How many units are at Albany Commons Apartments?
Public records list 24 units at Albany Commons Apartments in Frankfort, KY 40602. That is a building size, not a count of open apartments.
Are there other affordable apartments near Albany Commons Apartments?
Yes — this page lists other income-restricted buildings in 40602 and nearby ZIP codes. Open a nearby card for the address and phone. Lists still do not show vacancies.
People Also Ask
How do I get into Albany Commons Apartments?
Call the number on this page and ask about the waiting list or how to apply at Albany Commons Apartments in Frankfort, KY 40602. Public housing is through the housing authority. Bring ID and income documents when they tell you to. This site cannot submit an application for you.
How do I qualify for affordable housing in Frankfort, KY 40602?
Most income-restricted buildings in Frankfort, KY 40602 serve households at or below 50% or 80% of area median income. HUD's 2026 very low-income (50%) limit for a 1-person household is $32,250, and $46,050 for a 4-person household. Public housing can go up to 80% ($51,600 for 1 person). Each building sets its own cap — call to confirm before you apply. Citizenship, household size, and local preferences can also apply.
What is the income limit for low-income housing in Frankfort, KY 40602?
For many programs in Frankfort, KY 40602, the 2026 HUD very low-income (50%) limit is $32,250 a year for 1 person and $46,050 for 4 people. The low-income (80%) limit is $51,600 for 1 person. Tax-credit buildings often use 60% of median income. Confirm with the property — they can be stricter.
How much rent do you pay for low-income housing in Frankfort, KY 40602?
In public housing and most Section 8 in Frankfort, KY 40602, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Frankfort, KY 40602 is $1,150 a month (rent plus utilities for a modest unit). Tax-credit apartments use set rents below market, not always 30% of income. Call the building for the actual rent; this site is not a vacancy or price list.
Does Albany Commons Apartments take Section 8 vouchers?
This file does not say that Albany Commons Apartments has a project-based Section 8 contract. Some landlords in Frankfort, KY 40602 accept Housing Choice Vouchers; you have to ask. Apply for a voucher with the housing authority, then call Albany Commons Apartments.
Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026; HUD Public Housing Developments, Oct 2026; USDA Rural Development multifamily, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying. Report a correction. To add a different building, use the suggestion rubric.