LOUISVILLE, Ky. (WDRB) --Â Soaring prices have made being able to afford a home an issue everywhere.
The Metro Housing Coalition wants to fix the housing crisis, but it said outdated zoning laws are standing in the way.
For more than 20 years, Louisville's Metropolitan Housing Coalition has released an annual report, summarizing the city's housing needs.
"We need more community housing," said Louisville resident Raymond Ferrell.
Ferrell lives within walking distance from the Main Public Library.
"Got more expensive," Ferrell said. "Prices are high for small spaces."
Ferrell hopes to see more housing options, throughout all 26 districts in Louisville.
"Hopefully it is affordable, hopefully it is for more families, and hopefully some of it will be for the homeless people because they need help." Ferrell said.
Louisville’s housing landscape includes a mix of single-family homes, multifamily units, and middle housing. And recently, there's been an uptick in multi-family developments.
According to the report, Louisville saw a notable price increase which impacts homeownership accessibility. Between the 2nd quarter of 2020 and the 2nd quarter of 2024, the housing price index increased by 42.3%.
The number of homeless students also increased by 8% since the 2022-23 school year.
"Housing is the keystone issue of our community. It impacts educational outcomes, economic opportunity, environmental concerns, health, transportation and food access," said Tony Curtis, the Metropolitan Housing Coalition Executive Director.
A nearly 20-mile section of east Jefferson County could become the next small city like Jeffersontown or Middletown.
"What we want to guard against is over development when we don't have an infrastructure to support it," said Eastwood organizer Bob Federico.
But the housing coalition said it's not acceptable.
"They are leading the anti-housing, whether that be multi family, affordable or middle housing, efforts to prevent people from accessing stable living situations," Curtis said.
One recommendation is to move away from exclusionary single-family zoning and towards more relaxed zoning practices.
"The opponents of middle housing and up zoning are wrong. Middle housing is present in the areas they are trying to prevent it. Property values have increased and rent prices have stabilized in other communities that have built more of it," Curtis said.
The coalition said homeownership has decreased in Louisville, but by focusing on outdated zoning laws and restrictive land development codes, it hopes to change that.
"With the new political situation coming in, things are going to rise," Ferrell said.
Since 2020, the median sales price for a single-family home in Louisville has increased by over 26%. The average 30-year fixed mortgage interest rate has more than double as it went from 3.11% in September 2020 to 6.71% in September 2024.
This led to a 74% increase in the average monthly mortgage payment which is an additional $8,280 annually. The report also says in Jefferson County there is a substantial housing burden due to lower incomes.
The housing coalition says you can't have affordable housing without affordable energy.
Next year it will be also release a utility affordability report.
The full report can be viewed below:
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