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Affordable Housing Development in Braddock Road Metro: A Decade of Change
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Braddock Road Metro neighborhood in Alexandria, Virginia, has 158 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This represents approximately 6.33% of the estimated 2,495 housing units in the neighborhood, based on a 2022 population estimate of 6,512. While this percentage falls below the ideal 15-20% target for affordable housing stock, it is important to note that other programs may contribute to the overall affordable housing inventory.
The LIHTC projects in the Braddock Road Metro neighborhood have received $2,648,750 in project tax credits, averaging about $16,764 per unit. This demonstrates a significant investment in affordable housing in the area. The neighborhood experienced consistent development of affordable housing projects from 2012 to 2015, with the first project, James Bland I, completed in 2012 and the most recent, James Bland V, finished in 2015.
The year 2014 saw the most affordable housing completed, with two projects: Pendleton Park and James Bland IV. While specific unit type breakdowns are limited, the LIHTC-funded projects include at least 16 two-bedroom units and 20 three-bedroom units, catering to various family sizes within the low-income population.
Over the past decade, the Braddock Road Metro neighborhood has experienced significant demographic changes. The population grew from 4,969 in 2013 to 6,512 in 2022, a 31% increase. This population growth may have contributed to the need for affordable housing development between 2012 and 2015. Median income in the neighborhood has also risen, from $120,297 in 2013 to $142,206 in 2022. Despite this increase, the presence of LIHTC projects indicates a continued need for affordable housing options for lower-income residents.
Racial demographics have shifted over the past decade. The white population has remained relatively stable (57% in 2013 to 66% in 2022), while the Black population has decreased (36% in 2013 to 21% in 2022). The Hispanic population has seen a slight increase (2% in 2013 to 6% in 2022). These changes in racial composition may reflect broader socioeconomic trends in the area.
The Braddock Road Metro neighborhood has a notable LIHTC-funded affordable housing presence, with 158 low-income units developed between 2012 and 2015. This represents about 6.33% of the estimated housing inventory and signifies a substantial investment in affordable housing for the area. The neighborhood has experienced population growth and increasing median incomes over the past decade, potentially influencing the need for affordable housing options. The racial demographic shifts observed may also play a role in the area's changing housing needs. The LIHTC program has made a tangible contribution to the affordable housing stock in this evolving neighborhood.
