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Affordable Housing in Auburn, NY: LIHTC's Two-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
Auburn, a city in New York State, has a population of 26,674 as of 2022 and covers an area of 8.41 square miles. The city has a LIHTC-funded affordable housing inventory of 288 total units, with 147 designated as low-income units. This represents approximately 2.82% of the city's estimated housing inventory of 10,220 units.
Auburn has received $4,071,919 in project tax credits through the LIHTC program. With approximately 6 projects, this translates to an average of $678,653 in federal funding per project. The average federal funding per unit is $14,138. Auburn's LIHTC funding represents 0.19% of the total state credits allocated to New York.
The city's LIHTC-funded affordable housing history spans from 2000 to 2019, with the earliest project being Westlake II and the most recent being Melone Village Phase I. The 2010s saw the most affordable housing development, with four projects completed during this decade.
The LIHTC-funded projects in Auburn offer a range of unit sizes. The inventory includes 22 one-bedroom units, 119 two-bedroom units, 97 three-bedroom units, and 23 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, Auburn's population has decreased from 27,369 in 2014 to 26,674 in 2022. The median income has increased from $46,474 in 2014 to $53,168 in 2022, indicating an overall improvement in economic conditions.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 83% in 2014 to 81% in 2022. There has been a small increase in diversity, with the percentage of residents identifying as two or more races rising from 3% to 6% during this period.
The development of LIHTC projects throughout the 2010s aligns with the city's efforts to maintain affordable housing options despite the rising median income. This suggests a proactive approach to addressing potential affordability challenges as the economic landscape evolves.
Auburn's LIHTC-funded affordable housing inventory contributes to addressing the city's housing needs, providing 288 units, with 147 specifically designated for low-income residents. The city has invested in affordable housing over the past two decades, with a particular focus in the 2010s. While the LIHTC-funded units represent a small percentage of the overall housing stock, they contribute to the city's efforts to maintain housing affordability in the face of rising median incomes. The diverse range of unit sizes in these projects suggests an attempt to cater to various household compositions within the community.
