HOUSING CAN’T WAIT
We are a grassroots initiative helping to bring more housing to Virginia.
Appalachian Kentucky, known for its energy production and rich cultural heritage, has faced decades of underinvestment in housing.
Recent natural disasters have worsened the crisis, destroying and damaging thousands of homes.
A gap analysis by Kentucky Housing Corporation shows a shortage of over 206,000 housing units statewide. This shortage is expected to grow to over 287,000 units by 2029.
Meanwhile, Census data reveals that more than 7,600 homes in Kentucky lack complete plumbing, and over 13,000 homes lack full kitchens.
Local leaders and voters are increasingly aware of this issue. A Kentucky Chamber survey found that 96% of local leaders report housing shortages in their communities, and 86% believe policymakers need to do more to address the problem.
Want to learn how housing challenges are affecting your community?
The KY Fahe Caucus is tackling these challenges head-on.
From 2019 to 2023, Fahe’s non-profit Members invested over $217 million in housing and community development. This work has improved nearly 7,000 households through mortgage lending, housing development, repairs, and more, transforming Appalachian communities and supporting local economies.
FOR LAWMAKERS:
Help us solve this challenge.
Learn how state investments in housing can generate housing opportunities for working families.
Success story
Fahe Members are on the forefront of rebuilding Southeast Kentucky’s housing stock after the 2022 flood disaster. Fahe Member HOMES Incorporated plans to build at least 100 new homes across Letcher County, most of which will have net-zero energy usage, generating enormous cost savings for flood-impacted families.
FACTS
A study by the National Association of Home Builders estimates that building 1,000 single-family homes in Kentucky would create 3,764 full-time jobs and generate $316.7 million in income for residents in the first year
On an ongoing basis, these homes would support 757 jobs and $50.8 million in annual income.
The Virginia Center for Housing Research at Virginia Tech (VCHR) reports that over 40% of Appalachian counties in Kentucky have a vacancy rate below 2%.
These “tight markets” lack housing inventory, driving up costs and worsening the housing crisis. For comparison, the typical U.S. vacancy rate is 5-8%, according to the Census Bureau.
Housing is where jobs go at night.
Employers need quality housing nearby to attract and keep workers. About 67% of larger companies say housing shortages make it harder to keep talent. Additionally, 58% report losing skilled employees due to a lack of affordable housing for working families.
For Kentucky residents:
If you are interested in becoming a homeowner, or want to explore refinancing options, check out Fahe’s lending arm, Just Choice Lending.
Partners
