FRANKFORT, Ky. — By 2029, Kentucky will need 287,120 more housing units to serve its projected population needs, according to the Kentucky Housing Supply Gap Analysis Phase II results, announced Tuesday in a webinar by Kentucky Housing Corp. (KHC) and Bowen National Research (Bowen).
Phase II builds upon the current housing supply gap findings released in April 2024. It surveyed the projected housing needs of each Kentucky county through 2029 and also factored in issues that impact housing including commuting, employment and economic development, income, rental supply and the age of homes and buildings, and natural disasters.
KHC and Bowen previewed the results in late August at the Kentucky Affordable Housing Conference to nearly 700 housing professionals in Louisville.
In 2024, the current gaps are 206,207 overall units:
- 101,569 rental units
- 104,638 for-sale homes
In 2029, the projected gaps are 287,120 overall units:
- 139,162 rental units
- 147,958 for-sale units
Kentucky Housing Corporation (KHC), with the help of Bowen National Research, is conducting the Kentucky Housing Supply Gap Analysis, a comprehensive survey of the state’s current and future housing supply, to provide housing providers, developers, local leaders, and nonprofit organizations a better understanding of the state of the housing market.
The factors contributing to housing unit shortages over the next five years include renters who need more space (household growth) and those who cannot afford their homes (severely cost burdened), both of which can help shape affordable housing construction and decision-making in the next few years.
- Watch the presentation on YouTube.
- View the PowerPoint presentation.
- See county-by-county data on the Housing Supply Gap Analysis website.
- Learn more here. at https://www.kyhousing.org/Data-Library/Housing-Gap-Analysis/Pages/default.aspx.
