2023 Northern Kentucky Housing Data Analysis

Overview

At its current rate, workforce job-creation in Northern Kentucky is outpacing workforce housing availability, putting strain on residents and employers. The Northern Kentucky Housing Data Study found that the Commonwealth’s eight northernmost counties – Boone, Campbell, Carroll, Gallatin, Grant, Kenton, Owen and Pendleton – need to create a combined 6,650 additional housing units beyond currently planned developments to support continued economic growth over the next five years.

To have the greatest impact, these additional housing units need to include single- and multi-family homes, apartment complexes and condos, as to reflect the needs and resources of Northern Kentucky’s diverse and growing workforce.

Read the full NKADD Housing Data Analysis Results: Regional Summary.

Key Findings

The Northern Kentucky Housing Data Study makes broad observations that apply across the entire eight-county region as well as specific conclusions on a more localized, even county-by-county basis (see below for county fact sheets). In the broadest terms, the study found that Northern Kentucky’s existing and planned housing stock does not match trends in its workforce development.

To correct this, communities need to plan for an additional 6,650 housing units on top of new developments already in progress or planned. Of these:

  • 3,260 units should be aligned with an income-range of $15-25/hour (monthly housing costs between $500-1,500)
  • 500 units should align with very low-income households (monthly housing costs below $320)
  • 4,220 units should be one- or two-bedroom, reflecting a shift in demographics and preferences away from three- to four-bedroom single-family homes

Get Involved

Local leaders and community partners are inviting the public to provide feedback on their regional housing experience. As Northern Kentucky’s economy is creating jobs faster than it’s creating housing, regional partners are beginning to formulate and consider how community-driven, income-aligned housing strategies could help meet the needs of our region’s economy and residents.

Get involved by providing feedback via this form.

Quick Facts & Figures

6,650 additional housing units

Over the next five years, the study’s eight counties need to add roughly 1,330 housing units each year. The study found that, of the 6,650 necessary units, roughly half (3,260) should be aligned with an income-range of $15-25/hour, while about 500 units should align with very low-income households. Additionally, two-thirds (4,220) of these new units should be 1- or 2-bedroom, reflecting a shift in demographics and preferences away from 3- and 4-bedroom single-family homes that have prevailed in the region over the last 20 years.

60 Below 60

In 2023, 60% of jobs within the study area earn an average annual salary below $60,000. Furthermore, this sector of wage-earners is expected to comprise 67% of new jobs created in the region over the next decade. However, across the region, housing that is attainable at this income level remains insufficient.

13+ Years

That’s how long homeowners across the Cincinnati metro area – including Northern Kentucky – are spending in their homes, on average, up from 6.5 years in 2005, making a direct, detrimental impact on housing units available.

2-3 vs. 4+-person Households

Across all eight counties, the study found that the average household size throughout Northern Kentucky – while it has stabilized – has shrunk in the last decade. This demonstrates the growing need to bolster the “missing middle” of smaller, one- to two-bedroom housing units.

The Data

Northern Kentucky Housing Study Data Analysis Background Information (August 2024)

Executive Summary

Northern Kentucky Housing Data Analysis Results: Regional Summary

County Profiles

Distribution of Household Income & Affordability

Northern Kentucky Regional Housing Data Analysis Archive

For additional information, please contact Tara Johnson-Noem, Executive Director – Northern Kentucky Area Development District, tara.noem@nkadd.org or 859.283.1885.