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Aberdeen's LIHTC Program: Affordable Housing in a Changing Mississippi City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Aberdeen, Mississippi, possesses a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 72 affordable housing units, all categorized as low-income units. These units constitute approximately 2.25% of the city's estimated total housing stock of 3,203 units. The LIHTC program has provided $750,000 in project tax credits to Aberdeen, distributed across approximately two projects. This allocation results in an average federal funding of $375,000 per project and approximately $10,417 per unit. Aberdeen's share represents 0.28% of the total state LIHTC funding.
The development of LIHTC-funded affordable housing in Aberdeen spans 32 years, from 1988 to 2020. The initial project, Aberdeen Townhouses, was completed in 1988, while the most recent addition, Woodruff Manor, was finalized in 2020. The latter project, completed in the 2020s, contributed 48 units to the city's affordable housing inventory. The LIHTC-funded housing stock in Aberdeen offers a range of unit sizes, including 13 one-bedroom units, 35 two-bedroom units, and 24 three-bedroom units.
Aberdeen's population has declined over the past decade, decreasing from 10,463 in 2010 to 8,360 in 2022. Despite this population reduction, the median income in the city has increased from $32,085 in 2013 to $46,086 in 2022. The racial composition of Aberdeen has remained relatively stable during this period, with a slight increase in the Black population from 61% in 2013 to 66% in 2022, and a corresponding decrease in the White population from 37% to 33%.
The LIHTC-funded affordable housing inventory in Aberdeen, Mississippi, while modest in scale, represents a significant component of the city's housing landscape. The 72 low-income units, distributed across two projects completed over three decades, demonstrate a sustained commitment to providing affordable housing options. The recent completion of Woodruff Manor in 2020 indicates ongoing attention to affordable housing needs, despite the city's declining population.
The increase in median income over the past decade, coupled with the relatively stable racial distribution, provides context for the city's evolving affordable housing requirements. While LIHTC-funded units constitute a small percentage of the estimated housing stock, they likely serve a crucial role in accommodating low-income residents of Aberdeen.
The diversity in unit sizes within the LIHTC-funded housing stock suggests an attempt to address the needs of various household compositions. The long-term nature of Aberdeen's participation in the LIHTC program, spanning from 1988 to 2020, indicates a consistent recognition of the importance of affordable housing in the community.
Aberdeen's share of 0.28% of the total state LIHTC funding provides insight into the city's relative position within Mississippi's broader affordable housing landscape. This proportion may reflect factors such as the city's population size, economic conditions, and competitive standing in securing LIHTC allocations.
In conclusion, Aberdeen's LIHTC-funded affordable housing inventory, while comprising a small portion of the city's total housing stock, represents a significant and long-standing effort to address low-income housing needs. The recent developments and the city's changing demographics suggest an ongoing evolution in Aberdeen's approach to affordable housing provision.
