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Affordable Housing Analysis in Zip Code 39507: Baywood Place Apartments' Decade-Long Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 39507 in Gulfport, Mississippi, has a population of 18,187 as of 2022 and covers an area of 8.36 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this area, providing a total of 72 units, with 71 of these designated as low-income units. Based on the estimated housing inventory of 6,968 units, the LIHTC-funded affordable housing covers approximately 1.03% of the zip code's housing stock.
The LIHTC program has invested $874,013 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $12,139 per unit. This investment represents 0.32% of the total LIHTC funding allocated to the state of Mississippi.
The affordable housing landscape in this zip code is represented by one project, Baywood Place Apartments, which was completed in 2009. This development has been providing affordable housing options to the community for over a decade. The project consists of 24 one-bedroom units and 48 two-bedroom units, offering a mix of housing options for different household sizes.
Over the past decade, the population in zip code 39507 has shown an overall increasing trend, growing from 15,870 in 2013 to 18,187 in 2022. The median income has also risen, from $47,902 in 2013 to $56,078 in 2022, indicating a general improvement in economic conditions.
Racial demographics have experienced some shifts during this period. The white population has decreased from 70% in 2013 to 65% in 2022, while the Black population has increased from 19% to 25%. The Hispanic population has remained relatively stable, fluctuating between 4% and 7% over the decade.
These demographic changes, particularly the increase in population and median income, suggest a growing community with potentially changing housing needs. The existing affordable housing continues to play a role in serving the community's lower-income residents.
Zip code 39507 in Gulfport, Mississippi, has a single LIHTC-funded affordable housing project, Baywood Place Apartments, which provides 72 units of affordable housing. This project represents a small but significant portion of the area's housing stock, covering about 1.03% of the estimated total units. The community has experienced population growth and increased median income over the past decade, along with some shifts in racial demographics. The existing affordable housing continues to serve the community's needs, supported by a substantial federal investment of $874,013 in tax credits.
