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Affordable Housing in Chickasaw: LIHTC's Impact on a Predominantly Black Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Chickasaw neighborhood in Louisville, Kentucky, exhibits a high concentration of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood's LIHTC inventory comprises 1,114 total units, with 834 designated as low-income units. This substantial affordable housing stock is integral to meeting the community's housing needs.
Based on the 2022 population of 5,237 and the national average household size of 2.61, the estimated number of housing units in the neighborhood is approximately 2,007. The LIHTC-funded affordable housing units represent about 55.5% of this estimated housing inventory, indicating a significant concentration of affordable housing in Chickasaw.
The LIHTC program has invested $4,963,701 in tax credits for affordable housing projects in Chickasaw. This investment translates to an average federal funding of about $4,456 per unit across all LIHTC-funded projects in the neighborhood. The program's involvement in Chickasaw spans 22 years, with the first LIHTC project completed in 1991 at 4132 Greenwood Ave and the most recent project, Parkland Scholar House, completed in 2013.
The 1990s and early 2000s witnessed the most significant affordable housing development in Chickasaw. Notable projects from this period include French Quarters Phase II (1995), Park Duvalle II-A (1999), and Park Duvalle III (2001). The year 2004 was particularly active, with multiple Park Duvalle IV phases and Hunt Homes being completed.
The LIHTC-funded housing in Chickasaw offers a diverse range of unit types. There are 233 one-bedroom units, 343 two-bedroom units, 243 three-bedroom units, and 38 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, Chickasaw has experienced a steady population decline, from 6,244 in 2014 to 5,237 in 2022. Despite this decrease, the median income has shown overall growth, rising from $27,633 in 2014 to $33,744 in 2022. This increase in median income, adjusted for inflation, may indicate changing economic conditions in the neighborhood.
The racial composition of Chickasaw has remained predominantly Black, with a slight decrease from 95% in 2014 to 92% in 2022. There has been a small increase in the Hispanic population, from less than 1% to 2%, and a modest rise in the White population from 1% to 5% over this period.
The most recent LIHTC project in Chickasaw was completed in 2013, which coincides with the beginning of the observed population decline. This timing suggests that the neighborhood's affordable housing needs may have been largely met by the existing LIHTC inventory, potentially reducing the demand for new affordable housing projects in recent years.
Chickasaw's LIHTC-funded affordable housing inventory is substantial, covering over half of the estimated housing units in the neighborhood. The LIHTC program has invested significantly in the area over two decades, providing a diverse range of unit types to meet various housing needs. While the neighborhood has experienced a population decline and slight demographic shifts in recent years, the existing affordable housing stock continues to play a crucial role in the community. The lack of new LIHTC projects since 2013 may reflect a stabilization of affordable housing needs in Chickasaw, though ongoing monitoring of demographic trends will be important for future housing policy decisions.
