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Affordable Housing in Zip Code 41017: LIHTC Funded Units in Villa Hills, Kentucky
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 41017, located in Villa Hills, Kentucky, has a population of 43,651 as of 2022. This area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 113 total units, with 86 designated as low-income units. Based on an estimated housing inventory of 16,725 units in the zip code, LIHTC funded affordable housing comprises approximately 0.68% of the total housing stock.
The LIHTC program has invested $1,596,252 in project tax credits in this zip code. This equates to an average federal funding of $14,126 per unit. Zip code 41017 holds 0.44% of Kentucky's total LIHTC funding, indicating its role in the state's affordable housing efforts.
Affordable housing has been present in this community for over a decade. The first LIHTC project, Transitions Recovery Kentucky, was completed in 2009, while the most recent, Three Springs Townhomes, was finished in 2020. The 2010s saw the most affordable housing activity, with two projects completed during this decade.
The LIHTC funded housing inventory in zip code 41017 offers a range of unit types. Of the 113 total units, there are 50 one-bedroom units, 24 two-bedroom units, 1 three-bedroom unit, and 38 four-bedroom units. This mix accommodates various household sizes and needs within the community.
Over the past decade, zip code 41017 has experienced population growth, increasing from 41,320 in 2010 to 43,651 in 2022. Median income has risen from $78,408 in 2013 to $91,932 in 2022, indicating economic improvement in the area. The racial composition has remained relatively stable, with a slight increase in diversity. The white population decreased from 93% in 2013 to 92% in 2022, while there were small increases in Asian, Black, and Hispanic populations.
The completion of two LIHTC projects during this period (in 2018 and 2020) aligns with the population growth and rising income levels, suggesting a continued need for affordable housing options even as the overall economic situation improved.
Zip code 41017 has a small but significant LIHTC funded affordable housing presence, covering 0.68% of the estimated housing stock. With three projects completed over more than a decade, the area has seen consistent investment in affordable housing. The diverse unit mix caters to various household sizes, and the continued development of LIHTC projects in recent years suggests an ongoing commitment to affordable housing in this growing and economically improving area.
