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Affordable Housing in Zip Code 41018: LIHTC Impact and Demographic Trends
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 41018, located in Erlanger, Kentucky, has a population of 26,789 as of 2022 and covers an area of 12.83 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 178 affordable housing units in this zip code, all of which are designated as low-income units. Based on the estimated housing inventory of 10,264 units, LIHTC-funded affordable housing represents approximately 1.73% of the total housing stock in this zip code.
The LIHTC program has invested $248,541 in tax credits for affordable housing projects in zip code 41018. With 178 total units funded, this translates to an average federal funding of $1,396 per unit. This zip code holds 0.07% of the total state LIHTC funding, indicating a relatively small portion of Kentucky's overall affordable housing investment.
Affordable housing has been present in zip code 41018 since 1993, with the most recent project completed in 2005. The earliest project was Eagle Ridge Townhomes, while the most recent was Ashwood Apartments and Townhomes. This 12-year span demonstrates a consistent commitment to affordable housing development in the area.
The 1990s saw the most affordable housing activity in zip code 41018, with two projects completed during that decade. The inventory includes a mix of unit types, with 60 one-bedroom units, 32 two-bedroom units, and 68 three-bedroom units, providing options for various household sizes.
Over the past decade, the population in zip code 41018 has remained relatively stable, with a slight increase from 26,572 in 2015 to 26,789 in 2022. The median income has shown significant growth, rising from $57,713 in 2015 to $68,667 in 2022, potentially indicating a reduced need for additional affordable housing.
The racial composition of zip code 41018 has remained predominantly white, with a slight decrease from 87% in 2015 to 85% in 2022. There has been a small increase in diversity, with the Black population growing from 3% to 5% and those identifying as two or more races increasing from 3% to 6% during this period.
Zip code 41018 has a modest LIHTC-funded affordable housing inventory, representing 1.73% of the estimated total housing stock. The area has seen consistent development of affordable housing from 1993 to 2005, with a mix of unit types to accommodate different household sizes. The population has remained stable, while the rising median income over the past decade might suggest changing affordable housing needs in the area. The racial composition has shown a slight increase in diversity, which could influence future housing policies and development strategies.
