Loading Content...
Affordable Housing in Shifley-York: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Shifley-York neighborhood in Owensboro, Kentucky, possesses a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 36 total units, with 26 designated as low-income units. Based on the 2022 population of 9,404 and the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 3,603. The LIHTC funded affordable housing represents about 1% of the estimated housing inventory in Shifley-York.
The LIHTC program has allocated $858,000 in project tax credits for affordable housing in Shifley-York. This equates to an average of $23,833 in federal funding per unit. The neighborhood has experienced LIHTC funded affordable housing projects since 2001, with the most recent project completed in 2013, indicating a 12-year span of affordable housing development in the area.
The 2010s witnessed the most significant affordable housing activity, with the completion of the Cottages of Mechanicsville in 2013. This project contributed 22 units to the neighborhood's affordable housing stock, all of which are designated as low-income units. The Baptist Town Estates, completed in 2001, added 14 units, with 4 of those being low-income units.
All 36 LIHTC funded units in Shifley-York are three-bedroom units, suggesting a focus on accommodating families or larger households.
Over the past decade, Shifley-York has experienced population growth, increasing from 8,110 in 2013 to 9,404 in 2022. The median income has also risen significantly, from $55,888 in 2013 to $63,986 in 2022. This upward trend in income may partially explain the absence of new LIHTC projects since 2013.
Regarding racial demographics, the neighborhood has maintained a predominantly white population, though there has been a slight increase in diversity. The percentage of Asian residents has grown from 0% in 2013 to 7% in 2022, while the percentage of white residents decreased slightly from 89% to 84% during the same period.
The Shifley-York neighborhood has a modest LIHTC funded affordable housing inventory, covering about 1% of the estimated housing stock. The area has seen two LIHTC projects over a 12-year span, with the most recent completed in 2013. All units are three-bedroom, suggesting a focus on family housing. The neighborhood has experienced population growth and a significant increase in median income over the past decade, which may have influenced the lack of new LIHTC developments since 2013. While the racial composition remains predominantly white, there has been a notable increase in the Asian population.
