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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The West Side neighborhood of Jersey City, New Jersey, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. With a total of 250 units in LIHTC-funded projects, including 230 designated as low-income units, this neighborhood demonstrates a commitment to providing affordable housing options. Based on the 2022 population of 27,218 and an estimated 10,428 housing units, the LIHTC-funded affordable housing covers approximately 2.4% of the neighborhood's estimated housing inventory.
The LIHTC program has invested significantly in the West Side neighborhood, with project tax credits totaling $5,876,179. This translates to an average federal funding of $23,505 per unit in LIHTC-funded projects. The neighborhood has seen a steady development of affordable housing over two decades, with the first project, Fairmount Apts, completed in 1996, and the most recent, A. Harry Moore IV, finished in 2016.
The 2010s witnessed the most substantial affordable housing development in the West Side. Notable projects during this period include A. Harry Moore Phase III (2011) and A. Harry Moore IV (2016). This concentration of development indicates a sustained effort to increase affordable housing options in the neighborhood over time.
Over the past decade, the West Side neighborhood has experienced fluctuations in population, with a general upward trend. The population increased from 23,280 in 2013 to 27,218 in 2022. During this period, median income showed modest growth, rising from $64,020 in 2013 to $64,819 in 2022, with some fluctuations in between.
The racial composition of the neighborhood has remained diverse but has seen some shifts. The Asian population decreased slightly from 28% in 2013 to 24% in 2022. The Black population also saw a decrease from 29% to 22%. Meanwhile, the Hispanic population increased from 23% to 30%, and the White population saw a slight increase from 15% to 18%.
These demographic changes, particularly the increase in Hispanic population and the slight rise in median income, may have influenced the continued development of LIHTC-funded housing in the neighborhood throughout the 2010s.
The West Side neighborhood of Jersey City has maintained a consistent approach to developing affordable housing through the LIHTC program over two decades. While the current LIHTC-funded units represent a small percentage of the estimated housing inventory, they provide crucial affordable options for low-income residents. The neighborhood's changing demographics, including population growth and shifts in racial composition, have likely influenced the continued investment in affordable housing. The steady development of LIHTC projects, particularly in the 2010s, demonstrates an ongoing commitment to addressing affordable housing needs in this diverse urban community.