State lawmakers say they’re looking to find ways to solve a housing shortage in Kentucky as they prepare next year’s legislative session.
The Kentucky Chamber says the state would need to build more than 300,000 homes over the next 30 years to maintain a healthy housing market. That includes homes in both urban and rural areas.
The chamber also reports 45% fewer housing permits have been issued from 2008 to 2023, about 2,000 less on average.
Kentucky Chamber Public Affairs Director John Hughes surveyed 100 community leaders about the shortage.
“The group was posed this question: If a major economic announcement of 1,000 jobs was announced in your community tomorrow, do you think your region could sustain or be positioned to solve this demand? Of those people surveyed, 90% of the folks said they could not,” Hughes said.
66% of those surveyed said a lack of housing was holding Kentucky’s economy back.
Tim Schenk of the Kentucky Bankers Association says the shortage can be a burden on rural workers.
“I can think of no better example than Rowan County, where you've got a prominent university, a prominent hospital, but a lot of their employees have to commute substantial distances to get the work done,” he said.
The state legislature’s Housing Task Force discussed implementing tax credits, creating a residential infrastructure fund and reforming Kentucky’s permitting and zoning laws to make development easier.
