Over the past decade, zip code 40356 has experienced steady population growth, increasing from 41,100 in 2013 to 45,006 in 2022. The median income has also risen, from $59,656 in 2013 to $70,417 in 2022, indicating an overall improvement in economic conditions.

Racial demographics in zip code 40356 have remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 87% in 2022, and small increases in other racial groups. The Hispanic population has grown from 3% to 4% during this period.

Despite population growth and income increase, no new LIHTC projects have been completed in zip code 40356 since 2005. This could be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or potentially reduced need for additional affordable housing units in the area.

Zip code 40356 in Nicholasville, Kentucky, has a modest LIHTC-funded affordable housing inventory, covering about 1.6% of the estimated housing stock. The area has seen consistent population growth and income increases over the past decade, with slight shifts in racial demographics. While the LIHTC program has contributed significantly to affordable housing in the area since the early 1990s, no new projects have been completed in recent years. This analysis provides insight into the affordable housing landscape of zip code 40356, though it is important to note that other housing programs may also contribute to the overall affordable housing inventory in the area.