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Affordable Housing in Anderson, Indiana: LIHTC Program's Three-Decade Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Anderson, Indiana, a city with automotive industry roots, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 869 total units in LIHTC funded projects, with 629 designated as low-income units. LIHTC funded affordable housing comprises approximately 3.3% of Anderson's estimated 26,400 housing units.
Anderson has received $1,102,289 in project tax credits for affordable housing through the LIHTC program. This funding is distributed across approximately 18 projects, resulting in an average of $61,238 in federal funding per project, or $1,268 per unit. Anderson's share of Indiana's total LIHTC funding is 0.26%, indicating a modest portion of the state's affordable housing resources.
The city's involvement in LIHTC funded housing spans from 1989 to 2018. The initial projects, Blakey - 4 and Blakey - 5, were completed in 1989, while the most recent project, Cottages of Anderson, was finished in 2018. The 1990s experienced the most activity, with six projects completed during this decade, including Westwood Estates, Applecreek Commons, and Gateway Village.
Anderson's LIHTC funded housing stock offers various unit types. The inventory includes 1 efficiency unit, 208 one-bedroom units, 371 two-bedroom units, 182 three-bedroom units, and 22 four-bedroom units. This distribution indicates accommodation for diverse family sizes and household compositions.
Anderson's population has remained relatively stable over the past decade, with a slight increase from 68,455 in 2015 to 68,905 in 2022. The median income has shown a positive trend, rising from $39,796 in 2015 to $45,785 in 2022, indicating gradual economic improvement.
Racial demographics have experienced minor shifts. The white population decreased from 80% in 2015 to 76% in 2022, while the Black population increased from 12% to 13%. The Hispanic population grew from 4% to 6%, and those identifying as two or more races increased from 2% to 4%. These changes suggest a gradual diversification of Anderson's population.
The most recent LIHTC project was completed in 2018, coinciding with the period of stable population and increasing median income. This timing may indicate a response to the city's ongoing affordable housing needs despite improving economic indicators.
Anderson's LIHTC funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has consistently utilized the LIHTC program over three decades to develop diverse housing options for low-income residents. The demographic trends of stable population, increasing median income, and gradual diversification provide context for the city's continued engagement with the LIHTC program.
