Louisville's rental eviction rate among highest of 50 largest US metro areas, new housing report says
Louisville's rental eviction rate is among the highest of the largest 50 Metropolitan areas in America.
LOUISVILLE, Ky. (WDRB) -- Louisville's rental eviction rate is among the highest of the largest 50 Metropolitan areas in America. More people in the region are renting than buying homes, and the 2017 State of Metropolitan Housing Report just released shows a need for more affordable housing.
The number of renters locally has increased by over 9 percent from 2010 to 2015 because of more demand for renting by the millennial generation and foreclosures pushing some people to become renters, the report states.
While new expensive apartments are continuing to go up in downtown Louisville, there have been protests over low-income housing proposals in other areas.
"Private sector developers are driven by making a profit and understandably so," said Kelly Kinahan with University of Louisville and the Department of Urban and Public Affairs. "So we do need more tools from the government side to support and incentivize that type of development."
The report looked at nine housing indicators and tracked affordable housing in the 13-county Louisville metropolitan area, which includes five counties in southern Indiana. It says the rental market continues to be racially segregated.
Cathy Hinko, the Executive Director of the Metropolitan Housing Coalition says, "We need to understand why Louisville has the seventh-highest eviction rate of the 50 largest metropolitan areas," said Cathy Hinko, Executive Director of the Metropolitan Housing Coalition.
MHC recommends establishing short-term, low-interest loans for people in danger of eviction.
Here is the full report:
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