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Southgate, Kentucky: LIHTC Program Dominates Affordable Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Southgate, Kentucky, a small city in Campbell County near Cincinnati, Ohio, possesses a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city has 769 LIHTC units, with 578 designated as low-income units. Based on the 2022 population of 3,381 and using the national average household size, Southgate's estimated housing inventory is approximately 1,295 units. LIHTC funded units constitute about 59.4% of the estimated housing stock, indicating a significant portion of the city's housing inventory is dedicated to affordable housing.
Southgate has received $4,605,107 in project tax credits for affordable housing through the LIHTC program. With approximately 11 projects, the average federal funding per project is $418,646. The average federal funding per unit is $5,989. Southgate holds 1.28% of the total state LIHTC funding, a notable amount for a city of its size.
The city's involvement in LIHTC funded housing spans over two decades. The first project, Vista Pointe Apartments, was completed in 1994, and the most recent project, Saratoga Place I, was finished in 2019. This 25-year period demonstrates a long-term commitment to affordable housing in Southgate. The 2000s saw the most affordable housing activity, with several projects completed during this decade, including Grand Towers (2005), Corpus Christi Apartments (2006), and Canterbury House Apartments (2009).
The LIHTC funded housing in Southgate offers a diverse range of unit types. While the total number of efficiencies is not available, there are 347 one-bedroom units, 309 two-bedroom units, 107 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating various household sizes and needs.
Analyzing demographic trends over the last decade, Southgate's population has remained relatively stable, fluctuating between 3,200 and 3,400 residents. The median income has shown some volatility, ranging from a high of $59,345 in 2013 to a low of $47,150 in 2021. The racial composition of the city has remained predominantly white, consistently above 88%, with small increases in Asian and Hispanic populations.
In summary, Southgate, Kentucky has a substantial LIHTC funded affordable housing inventory that covers a significant portion of its estimated housing stock. The city has consistently invested in affordable housing over a 25-year period, with the most activity occurring in the 2000s. The diverse range of unit types suggests an effort to meet various housing needs. The fluctuations in median income underscore the ongoing importance of affordable housing options for Southgate's residents.
