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Affordable Housing in Appleridge: LIHTC Investment and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Appleridge, a neighborhood in Jackson, Mississippi, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 60 units in LIHTC funded projects, with 6 designated as low-income units. Based on the 2022 population of 1,785 and using the national average household size, there are approximately 684 housing units in the neighborhood. LIHTC funded affordable housing comprises about 8.8% of the estimated housing inventory in Appleridge.
The LIHTC program has invested $535,890 in tax credits in Appleridge, averaging $8,931.50 per unit in LIHTC funded projects. The neighborhood's LIHTC funded affordable housing inventory consists of one project, Southpointe Apartments, completed in 2020. This indicates that LIHTC program affordable housing is a recent development in Appleridge.
The Southpointe Apartments project includes 36 one-bedroom units and 24 two-bedroom units. This distribution suggests a focus on smaller households and families. The absence of efficiencies, three-bedroom, and four-bedroom units indicates a specific housing strategy tailored to perceived community needs.
Demographic trends in Appleridge over the last decade show notable patterns. The population fluctuated, peaking at 2,495 in 2019 before declining to 1,785 in 2022. Median income has been volatile, rising from $19,701 in 2013 to $50,696 in 2017, then decreasing to $28,429 in 2022. This income fluctuation may have influenced the decision to develop LIHTC funded housing in the area.
The racial composition of Appleridge has remained predominantly African American, increasing from 87% in 2013 to 97% in 2022. This demographic stability may have been a factor in planning affordable housing to serve the existing community.
Appleridge's affordable housing landscape is characterized by a single LIHTC funded project, Southpointe Apartments, completed in 2020. This project contributes 60 units to the neighborhood's housing stock, with 6 specifically designated as low-income units. The LIHTC program's investment of $535,890 demonstrates a commitment to addressing affordable housing needs in the area. The project's focus on one and two-bedroom units suggests a tailored approach to local housing demands. While the LIHTC funded housing covers a modest portion of the estimated housing inventory, it represents a recent and significant addition to Appleridge's affordable housing options. The demographic trends, including fluctuations in population and median income, along with a stable racial composition, provide context for the implementation of LIHTC funded housing in this neighborhood.
