Grand Oaks - Bluegrass V — Income-Restricted Housing in Lexington, KY 40505
Thoroughbred Way, Lexington, KY 40505
88 units · 1–3 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
- 36 1 bedroom · 36 2 bedrooms · 16 3 bedrooms
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Nearby income-restricted buildings
Homownership
224 Twelfth St, Lexington, KY 40505
0.7 mi away
40 units · 1–3 BR
- Apply through Housing Authority of Lexington
- Several buildings — call for addresses
Russell Cave
1050 Russell Cave Rd, Lexington, KY 40505
0.7 mi away
26 units · 1–3 BR
- Apply through Housing Authority of Lexington
Castlewood Prader-Willi Group Home
531 E. Loudon Ave, Lexington-Fayette, KY 40505
1.1 mi away
9 units · 8 income-restricted · Studio · People with disabilities
Rents and income limits in 40505
- Fair market rent, 2 bedrooms
- $1,200/mo
- Income needed to pay it at 30% of income
- $48,000/yr
- Renters in 40505 paying 30% or more of income on rent
- 54%
Income limits (2026)
Lexington-Fayette, KY area · median family income $102,100. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $21,500 | $35,750 | $57,200 |
| 2 | $24,550 | $40,850 | $65,400 |
| 3 | $27,600 | $45,950 | $73,550 |
| 4 | $33,000 | $51,050 | $81,700 |
| 5 | $38,680 | $55,150 | $88,250 |
| 6 | $44,360 | $59,250 | $94,800 |
| 7 | $50,040 | $63,350 | $101,350 |
| 8 | $55,720 | $67,400 | $107,850 |
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 | 40505 | Wider area |
|---|---|---|
| Studio | $840 | $986 |
| 1 bedroom | $1,020 | $1,205 |
| 2 bedrooms | $1,200 | $1,416 |
| 3 bedrooms | $1,650 | $1,948 |
| 4 bedrooms | $1,790 | $2,108 |
Wider area = Lexington-Fayette, KY. Two-bedroom fair market rents in 12 nearby ZIPs range from $1,190 (40504) to $1,760 (40509).
Census figures for 40505 (2020–2024 average): median rent $925. Median household income $58,206. 40% of homes are rented. 54% of renters pay 30% or more of their income on rent, and 29% pay half or more.
Census median rent is what renters here actually pay, including long-term leases. Fair market rent is HUD's estimate for a modest apartment available now.
Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures); U.S. Census Bureau American Community Survey 5-year 2020–2024. 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 40505's fair market rent.
Estimate your Section 8 rent share for 40505Frequently Asked Questions
How do I apply to Grand Oaks - Bluegrass V?
No phone is listed for Grand Oaks - Bluegrass V. Try the city housing office or, for USDA rural properties, USDA's Multifamily Housing search. These records do not show openings.
Is Grand Oaks - Bluegrass V Section 8 housing?
Grand Oaks - Bluegrass V is listed as income-restricted housing in Lexington, KY 40505 (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 Grand Oaks - Bluegrass V?
Public records list 88 units at Grand Oaks - Bluegrass V in Lexington, KY 40505. That is a building size, not a count of open apartments.
Are there other affordable apartments near Grand Oaks - Bluegrass V?
Yes — this page lists other income-restricted buildings in 40505 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 Grand Oaks - Bluegrass V?
Call the number on this page and ask about the waiting list or how to apply at Grand Oaks - Bluegrass V in Lexington, KY 40505. 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 Lexington, KY 40505?
Most income-restricted buildings in Lexington, KY 40505 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 $35,750, and $51,050 for a 4-person household. Public housing can go up to 80% ($57,200 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 Lexington, KY 40505?
For many programs in Lexington, KY 40505, the 2026 HUD very low-income (50%) limit is $35,750 a year for 1 person and $51,050 for 4 people. The low-income (80%) limit is $57,200 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 Lexington, KY 40505?
In public housing and most Section 8 in Lexington, KY 40505, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Lexington, KY 40505 is $1,200 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 Grand Oaks - Bluegrass V take Section 8 vouchers?
This file does not say that Grand Oaks - Bluegrass V has a project-based Section 8 contract. Some landlords in Lexington, KY 40505 accept Housing Choice Vouchers; you have to ask. Apply for a voucher with the housing authority, then call Grand Oaks - Bluegrass V.
Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026; HUD Public Housing Developments, 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.