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Affordable Housing Dominates North Colony: LIHTC's Impact on a Changing Jackson Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Colony, a neighborhood in Jackson, Mississippi, exhibits a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 577 units in LIHTC-funded projects, with 507 designated as low-income units. Based on the 2022 population of 1,065 and using the national average household size, the neighborhood is estimated to have approximately 408 housing units. The LIHTC-funded affordable housing comprises the majority of the neighborhood's housing inventory, indicating a strong emphasis on providing affordable housing options in this area.
The LIHTC program has made significant investments in North Colony, with project tax credits totaling $7,127,403. This equates to an average federal funding of about $12,352 per unit, demonstrating substantial financial support for affordable housing in the neighborhood. Affordable housing has been a long-standing feature of North Colony, with the earliest LIHTC project, Willow Point I, completed in 1995. The most recent project with available data, Avalon Park Apartments, was completed in 2008, indicating over a decade of continuous affordable housing development.
The 1990s saw the most affordable housing activity, with multiple Willow Point projects completed during this period. The early 2000s also saw continued development with Bristol Park Apartments in 2002 and Avalon Park Apartments in 2008. The LIHTC-funded projects in North Colony offer a diverse range of unit types. While there is no data on efficiencies, the inventory includes 80 one-bedroom units, 356 two-bedroom units, 136 three-bedroom units, and 5 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes, with a particular emphasis on two-bedroom units.
Over the past decade, North Colony has experienced fluctuations in its population and demographic composition. The population peaked in 2013 at 1,869 residents but has since declined to 1,065 in 2022. Despite this population decrease, the median income has shown a general upward trend, rising from $28,506 in 2015 to $35,959 in 2022. The racial composition of North Colony has also shifted. While predominantly African American throughout the decade, the neighborhood has seen an increase in racial diversity. The percentage of Black residents decreased from 97% in 2018 to 81% in 2022, with a corresponding increase in White residents from 3% to 16% during the same period. Additionally, a small Hispanic population (2-3%) and residents of two or more races (2%) emerged in recent years. These demographic changes, particularly the increase in median income and growing diversity, may influence future affordable housing needs and development in the neighborhood.
North Colony demonstrates a robust commitment to affordable housing through its extensive LIHTC-funded inventory. The neighborhood's housing stock is predominantly composed of affordable units, with a variety of options to accommodate different household sizes. The area has seen consistent investment in affordable housing over the years, particularly in the 1990s and early 2000s. Recent demographic shifts, including a declining population, rising median income, and increasing racial diversity, may shape future affordable housing needs and developments in North Colony. This analysis underscores the significant role of LIHTC in providing affordable housing options in this Jackson neighborhood.
