The LIHTC-funded housing in Covington offers a diverse range of unit types. The inventory includes 62 one-bedroom, 108 two-bedroom, and 54 three-bedroom units. This distribution indicates an effort to accommodate households of various sizes within the affordable housing stock.

Covington's population has remained relatively stable over the past decade, fluctuating between 12,915 and 13,634 residents. The median income has shown an overall upward trend, increasing from $35,705 in 2017 to $48,436 in 2022. This rise in median income may potentially affect the demand for affordable housing.

The racial demographics of Covington have maintained a relatively consistent distribution. The white population has slightly decreased from 56% in 2013 to 55% in 2022, while the Black population has experienced a minor decrease from 43% to 40% during the same period. The Hispanic population has remained stable at approximately 1-2% throughout the decade.

Covington's LIHTC-funded affordable housing inventory contributes to addressing the city's housing needs, representing about 5% of the estimated housing stock. The city has utilized federal funding to create a range of affordable units, primarily developed in the 1990s and early 2000s. While the population has remained relatively stable, the increasing median income over the past decade may influence future affordable housing needs in Covington.