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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Middletown, Kentucky, a suburban city in Jefferson County, has 244 LIHTC-funded affordable housing units, with 190 designated as low-income units. These units represent approximately 3.5% of the city's estimated 7,017 housing units.
Middletown has received $1,877,838 in project tax credits through the LIHTC program, averaging about $625,946 per project across three approximate projects. The average federal funding per unit is $7,696. Middletown holds 0.52% of Kentucky's total LIHTC funding allocation.
The city's affordable housing development spans over a decade, with the first project, Woodside Village Apartments, completed in 2008, and the most recent project, Middletown Apartments, finished in 2019. The 2010s saw the most affordable housing development activity in Middletown.
The LIHTC-funded projects in Middletown offer a diverse range of unit types. Out of the 244 total units, there are 90 one-bedroom units, 107 two-bedroom units, and 47 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, from individuals to small families.
Middletown has experienced significant population growth, increasing from 12,553 in 2019 to 18,314 in 2022. This rapid growth may have influenced the need for additional affordable housing options, as evidenced by the completion of the Middletown Apartments project in 2019.
The median income in Middletown has fluctuated but remains relatively high, ranging from $101,682 in 2020 to $96,392 in 2022. Despite the overall affluence, the presence of LIHTC projects indicates a recognition of the need for affordable housing options within the community.
Racial demographics in Middletown have remained relatively stable over the past decade, with a predominantly white population (82% in 2022). However, there has been a slight increase in diversity, with small growths in Asian (4% in 2022) and Black (9% in 2022) populations. This gradual diversification may influence future affordable housing needs and development strategies.
Middletown's LIHTC-funded affordable housing inventory, while modest in relation to the city's overall housing stock, represents a consistent effort to provide affordable options in a predominantly affluent suburb. The city has seen a steady development of affordable housing projects over the past decade, coinciding with significant population growth. While the current inventory covers a small percentage of the city's housing, the continued investment in LIHTC projects suggests an ongoing commitment to maintaining diverse housing options in Middletown.