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Affordable Housing in 45th and Moncrief: LIHTC's Decade-Long Impact on Jacksonville 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
The 45th and Moncrief neighborhood in Jacksonville, Florida, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 212 total units, with 14 designated as low-income units. Based on the 2022 population of 3,678 and using the national average household size, the estimated housing units in the neighborhood are approximately 1,409. LIHTC funded affordable housing accounts for about 15% of the estimated housing inventory, aligning with the target percentage for a well-balanced community.
The LIHTC program has invested $504,385 in tax credits for affordable housing projects in this neighborhood. This investment equates to an average federal funding of approximately $2,379 per unit. The neighborhood has experienced LIHTC projects over a decade, with the first project, Rosalind Villas, completed in 2002, and the most recent, Hilltop Village, finished in 2012. This pattern indicates a consistent effort to maintain and expand affordable housing options in the area over time.
The 2010s witnessed the most significant development in affordable housing, with Hilltop Village being the largest project, contributing 200 units to the neighborhood's inventory. The housing mix in LIHTC-funded projects includes 6 one-bedroom units, 72 two-bedroom units, and 134 three-bedroom units, indicating a focus on accommodating families of various sizes.
Over the past decade, the neighborhood's population has fluctuated, with a slight overall decrease from 4,019 in 2010 to 3,678 in 2022. The median income has shown some improvement, rising from $24,659 in 2013 to $27,416 in 2022, potentially indicating a gradual economic improvement in the area.
The racial composition of the neighborhood has remained predominantly Black, although there has been a slight decrease from 93% in 2013 to 84% in 2022. Concurrently, there has been a small increase in Hispanic residents, from 1% to 7% over the same period. This demographic stability suggests that the LIHTC projects have been consistently serving the needs of the local community.
The 45th and Moncrief neighborhood demonstrates a consistent commitment to affordable housing through LIHTC-funded projects. With 15% of the estimated housing inventory dedicated to affordable units, the neighborhood appears to meet the target for a well-balanced community. The investment in diverse unit sizes, particularly favoring two and three-bedroom apartments, indicates an effort to accommodate various household compositions. While demographic trends show relative stability, the slight increase in median income and minor shifts in racial composition suggest a slowly evolving community landscape. The LIHTC program has played a significant role in maintaining affordable housing options in this area over the past two decades.
