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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pineville, Kentucky, has a distinctive affordable housing inventory funded by the Low-Income Housing Tax Credit (LIHTC) program. The city possesses 123 affordable units, all of which are classified as low-income units. This single LIHTC project constitutes a significant portion of the community's affordable housing options.
The LIHTC-funded affordable housing represents approximately 4.5% of Pineville's estimated 2,738 housing units. While this percentage falls below the typical 15-20% target for affordable housing, it is important to consider that other programs may contribute to the city's affordable housing inventory.
Pineville has received $7,492,752 in project tax credits through the LIHTC program. With one project, this translates to an average federal funding of $7,492,752 per project. The average federal funding per unit is approximately $60,916, indicating a substantial investment in each affordable housing unit.
Pineville holds 2.08% of the total state LIHTC funding, a notable share for a city of its size. The sole LIHTC project in Pineville is Wilderness Trail Manor, completed in 2013. This project has provided affordable housing options for nearly a decade, contributing to the city's efforts to address housing needs for low-income residents. All 123 units in the LIHTC-funded project are one-bedroom apartments, suggesting a focus on housing for individuals or small households.
Over the past decade, Pineville has experienced a population decline, from 8,698 in 2013 to 7,146 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $26,000 in 2013 to $34,166 in 2022. The racial composition of Pineville has remained relatively stable, with the white population consistently representing about 95-97% of the total. The Black population has held steady at around 2%, while the percentage of residents identifying as two or more races has slightly increased from 1% to 3% over the past decade.
The completion of the Wilderness Trail Manor project in 2013 coincided with the beginning of the population decline and the start of the overall upward trend in median income. This suggests that the LIHTC project may have been implemented in response to identified housing needs at that time.
Pineville's LIHTC-funded affordable housing inventory consists of a single project, Wilderness Trail Manor, providing 123 one-bedroom units for low-income residents. While this covers about 4.5% of the estimated housing stock, it represents a significant investment in affordable housing for the community. The city has experienced demographic shifts over the past decade, including a declining population and increasing median income, which may influence future affordable housing needs. The stability of the LIHTC inventory since 2013 suggests a consistent presence of affordable housing options in Pineville, contributing to the community's housing diversity.