Owensboro, Kentucky, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 358 total units, with 341 designated as low-income units. This represents approximately 1.31% of the city's estimated 27,243 housing units. The city has received $20,254,763 in project tax credits for affordable housing through the LIHTC program, distributed across approximately 10 projects. This translates to an average federal funding of $2,025,476 per project or about $56,577 per unit. Owensboro holds 5.62% of Kentucky's total LIHTC funding, indicating a significant allocation of the state's affordable housing resources to this city.

Owensboro's involvement with LIHTC funded affordable housing spans nearly two decades, from the earliest project completed in 2001 to more recent developments in 2018. The 2000s saw the most affordable housing activity, with multiple projects completed throughout the decade. The housing mix in Owensboro's LIHTC projects is diverse, with 124 one-bedroom units, 197 two-bedroom units, and 37 three-bedroom units, suggesting a focus on accommodating various household sizes.

Over the past decade, Owensboro has experienced steady population growth, increasing from 66,659 in 2013 to 71,103 in 2022, a 6.7% increase. Median income in Owensboro has shown an overall upward trend, rising from $50,365 in 2013 to $56,544 in 2022. Despite this increase, the continued development of affordable housing projects suggests an ongoing need for low-income housing options.