LOUISVILLE, Ky. — The urgent need for more affordable housing options in Louisville continues to grow for low-income families across the Metro, according to the latest Housing Needs Assessment (HNA) report.
On Wednesday, Mayor Craig Greenberg released the finalized version of his “My Louisville Home” plan which outlines investment and policy actions by Metro Government to spur housing developments across Louisville.
The goal is to create and preserve 15,000 affordable housing units by 2027.
“Even when we do that,” he said. “There will still be more to do.”
According to the 2024 HNA report, between 2016 and 2021, Louisville saw an increase of nearly 18,400 affordable housing units, but it hasn’t been enough to keep up with demand.
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During that same period, the report found the need for housing the city’s lowest income residents increased by 15% to more than 36,000 units.
The report found more than a quarter of households remain “cost burdened.” This means they pay more than 30% of their income toward housing expenses.
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More than 11% of households are “severely cost burdened,” paying more than 50% for housing.
“That’s unacceptable,” Greenberg said. “While I am encouraged by the signs of progress we are seeing, the updated [HNA report] shows that we have a long way to go to ensure that everyone has a safe place to call home.”
The finalized “My Louisville Home” plan would allow developers to build duplexes, triplexes and fourplexes on properties zoned for single-family homes; re-zone three city-owned properties so Metro Government can work with developers on affordable housing projects; and help low-income families become homeowners through the city’s “Down Payment Assistance” program.
It also includes some community suggestions, like cohousing, after the draft plan was released last October. Greenberg said right now his administration is focused on developing "middle housing" options.
Metro councilmembers said they will also look at other cities to learn what housing strategies work for them.
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