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Affordable Housing Development in Bergen-Lafayette: Two Decades of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bergen-Lafayette, a neighborhood in Jersey City, New Jersey, has a significant history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood contains 1,358 units in LIHTC-funded projects, with 1,059 designated as low-income units. Based on the 2022 population of 26,579 and an estimated 10,184 housing units, LIHTC-funded affordable housing comprises approximately 13.3% of the neighborhood's housing inventory.
The LIHTC program has made substantial investments in Bergen-Lafayette, with project tax credits totaling $17,196,113. This equates to an average federal funding of about $12,662 per unit in LIHTC-funded projects. Affordable housing development in the neighborhood has been consistent over the years, with the earliest recorded project, "31 Virginia Ave," completed in 1993, and more recent developments like "Glennview Townhouses II" finished in 2016.
The 2000s were particularly active for affordable housing development in Bergen-Lafayette. Notable projects from this decade include "Lafayette Village" (2002), "Senior Living At Lafayette" (2003), "Pacific Court" (2005), and "Woodward Homes" (2006). The neighborhood continued to see development into the 2010s with projects such as "Glennview Townhomes" (2011) and "Ocean Green Senior Apartments" (2015).
The LIHTC-funded housing in Bergen-Lafayette offers a diverse range of unit types. The inventory includes 84 one-bedroom units, 29 two-bedroom units, 39 three-bedroom units, and 2 four-bedroom units. This mix indicates a focus on accommodating various household sizes and needs within the community.
Bergen-Lafayette has experienced significant demographic changes over the past decade. The population has grown from 22,281 in 2018 to 26,579 in 2022, an increase of about 19%. During this period, the median income has also risen, from $38,182 in 2018 to $48,582 in 2022, representing a 27% increase.
The racial composition of the neighborhood has shifted. The Black population decreased from 52% in 2018 to 49% in 2022, while the Hispanic population decreased slightly from 37% to 33%. Concurrently, the White population increased from 6% to 13%. These demographic changes may influence future affordable housing needs and development in the area.
Bergen-Lafayette has a substantial inventory of LIHTC-funded affordable housing, covering about 13.3% of the estimated housing units. The neighborhood has seen consistent development of affordable housing projects from the early 1990s through the 2010s, with significant activity in the 2000s. The LIHTC program has provided substantial funding, averaging $12,662 per unit. The housing mix caters to various household sizes, with a range of one to four-bedroom units available. Recent years have seen population growth, increasing median income, and shifts in racial composition, factors that may impact future affordable housing needs and development in Bergen-Lafayette.
