Loading Content...
Bowling Green's LIHTC Program: Affordable Housing in a Growing University City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bowling Green, Kentucky, a city known for Western Kentucky University, has 594 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 432 designated as low-income. This represents approximately 2.07% of the city's estimated 28,708 housing units. The LIHTC program has provided $6,874,983 in project tax credits to Bowling Green, averaging $196,428 per project and $11,574 per unit. Bowling Green's share of Kentucky's total LIHTC funding is 1.91%.
The LIHTC program has been active in Bowling Green since 1991, with the most recent project completed in 2016. The 1990s saw the highest number of affordable housing projects completed, including developments such as B.C. Wimpee 1350, Eastern Heights Duplex, and Double Springs Manor I and II. The LIHTC inventory in Bowling Green offers diverse housing options, including 115 one-bedroom, 322 two-bedroom, 49 three-bedroom, and 45 four-bedroom units.
Bowling Green's population has grown steadily, increasing from 65,239 in 2016 to 74,929 in 2022. The median income has also risen, from $37,305 in 2016 to $45,812 in 2022. These trends suggest an ongoing need for affordable housing options in the city.
The racial demographics in Bowling Green have remained relatively stable, with the white population constituting the majority at 65% in 2022. The city has experienced slight increases in its Asian, Black, and Hispanic populations, indicating a gradually diversifying community that may benefit from continued affordable housing development.
In conclusion, Bowling Green's LIHTC funded affordable housing plays a significant role in the city's housing landscape. While it covers a modest percentage of the estimated housing stock, the consistent development of LIHTC projects over the past three decades demonstrates an ongoing commitment to providing affordable housing options. The city's growing population and increasing median income underscore the continued importance of maintaining and potentially expanding affordable housing initiatives to meet the evolving needs of Bowling Green's diverse community.
_kentucky%2Fen-median-income-race-distribution-kentucky-louisville-jefferson-county-metro-government-(balance)-okolona.webp%3F&w=3840&q=75)