Folks across the state continue to talk about the need for more housing.

But one regional group says it's taking action.

Our Emily Prince has more on the brand new Northern Kentucky Housing Fund, and how those on the hunt for a new home could benefit.

50% of northern Kentuckians cannot afford a new home.

They cannot afford to move into a new home in Kentucky.

That astounding statistic is a problem across much of the nation, but especially in the northernmost part of the state.

Leaders across the region are making it a top priority, however, to find solutions to the housing issue.

Launching the Northern Kentucky Housing Fund, which seeks to provide low interest loans to housing developers.

This is intended to create more housing, not just subsidized, but to create more housing across every income category, with the goal of ultimately approaching our housing problem through a supply side economic solution.

When we talk about incentives to developers, it's not to line their pockets, but it's to make.

The numbers work.

So what numbers does Northern Kentucky need when it comes to new homes?

A study by the Kentucky Housing Corporation laid out the deficit.

In just Boone, Kenton and Campbell counties alone.

It identified a need for 24,000 units.

And Joe Clair, chief operating officer of the Catalytic Fund, said if the region continues to grow as it has, they might need up to 37,000 new homes by the year 2030.

20, 30 years ago, it was a build it and they will come.

Strategy for new major job developments.

But now jobs follow people.

And if we don't have the resources to house those that how's that workforce in Northern Kentucky?

We're going to have a really hard time continuing the really great growth we've experienced over the last decade.

The goal for the new housing fund is to secure a $25 million revolving loan fund, which will be financed by regional partners like banks and private investors.

We hope to raise $5 million per year for the next five years.

We believe that that can create about 500 new units per year.

Even though the fund is brand new, Clair said they've already received $1.5 million.

This isn't a pipe dream.

This is something we're hoping to actually pull off within the next six months.

And when we say affordable housing, what does that really mean?

Clair said the goal is for someone to find a home that cost 30% or less of their total income, which looks different across different career fields.

An entry level educator in Kenton County makes about $36,000 a year.

That's somebody with a master's degree.

You know, they're going to be living in their parents basement at that price point.

They can't find apartments that they can afford when they start their career here.

The average airport wage is about $64,000, and those people can't find places to live near the airport.

Boone County Judge executive Gary Moore emphasized that the need for housing price points goes across the spectrum, including even higher income homes.

For Kentucky Edition, I'm Emily Prince.

Northern Kentucky is the third metropolitan area in the state to form a housing fund.

Both Louisville and Lexington also have similar funds.