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Affordable Housing in Louisville's Highlands: A Decades-Long Commitment
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 Highlands neighborhood in Louisville, Kentucky, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 133 units in LIHTC-funded projects, with 28 units specifically designated as low-income. Based on the 2022 population of 1,690 and the national average household size, the neighborhood is estimated to have approximately 648 housing units. LIHTC-funded affordable housing comprises about 20.5% of this estimated housing inventory, aligning with typical targets for a balanced community.
The LIHTC program has made substantial investments in the Highlands, with project tax credits totaling $4,351,821. This equates to an average federal funding of approximately $32,720 per unit across all LIHTC-funded projects in the neighborhood. Affordable housing has been a consistent feature of the Highlands since 1994, when the earliest LIHTC projects, St. Brigid Apartments and St. Therese Apartments, were completed. The most recent addition, Jackson Woods Apartments, was completed in 2011, indicating nearly two decades of affordable housing development in the area.
The 1990s saw the highest affordable housing activity, with three out of four projects completed during this decade. The neighborhood's LIHTC-funded housing stock includes a variety of unit types, predominantly consisting of one-bedroom (40 units) and two-bedroom (72 units) apartments, complemented by 17 three-bedroom and 4 four-bedroom units.
The Highlands has experienced population growth over the past decade, increasing from 1,394 residents in 2013 to 1,690 in 2022. This 21% population increase occurred after the completion of the most recent LIHTC project in 2011. Median income in the neighborhood has fluctuated, peaking at $59,496 in 2013 before declining to $53,426 in 2022. This trend may suggest an ongoing need for affordable housing options in the area.
Racial demographics have remained relatively stable, with a predominantly white population. However, there has been a slight increase in diversity, particularly in the Asian and multi-racial categories, which rose from 1% and 0% in 2013 to 3% and 9% respectively in 2022.
The Highlands neighborhood demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. With approximately 20.5% of its estimated housing inventory dedicated to affordable units, the area appears to meet typical affordable housing targets. The mix of unit sizes suggests accommodation for various household compositions. While the neighborhood has not seen new LIHTC developments in the last decade, the population growth and fluctuating median income indicate a potential ongoing need for affordable housing options. The gradual increase in racial diversity, coupled with the existing affordable housing stock, positions the Highlands as an evolving community striving to meet the housing needs of its diverse population.
