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Affordable Housing in Bakersville: LIHTC Impact 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
Bakersville, a neighborhood in Manchester, New Hampshire, contains 29 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units constitute approximately 2.61% of the estimated 1,111 housing units in the neighborhood, based on the 2022 population of 2,900 and the national average household size. The LIHTC program has invested $341,989 in tax credits for affordable housing in Bakersville, averaging $11,793 per unit.
The affordable housing inventory in Bakersville includes 2 efficiency units, 24 two-bedroom units, and 3 three-bedroom units. This mix provides housing options for various household sizes. The sole LIHTC project in Bakersville, Family Willows, was completed in 2008, marking the introduction of LIHTC-funded affordable housing in the neighborhood.
Bakersville has experienced demographic changes over the past decade. The population has remained stable, with 2,898 residents in 2018 and 2,900 in 2022. However, the median income has increased significantly, rising from $50,314 in 2018 to $76,283 in 2022, representing a 51.6% increase over five years.
The racial demographics of Bakersville have shown slight changes. The neighborhood has maintained a predominantly white population, increasing from 77% in 2018 to 78% in 2022. The Asian population has grown from 4% to 7%, while the Hispanic population has decreased from 12% to 9%. The Black population has remained steady at 3-4%.
These demographic trends, particularly the rising median income, may indicate a changing economic landscape in the neighborhood. This could potentially affect the future need for affordable housing, although other factors and housing programs may also influence the overall affordable housing situation in Bakersville.
Bakersville's LIHTC-funded affordable housing inventory provides 29 low-income units to the neighborhood. The Family Willows project, completed in 2008, represents a significant investment in affordable housing for the area. The neighborhood has experienced notable demographic changes in recent years, particularly in terms of rising median income and slight shifts in racial composition. These factors, along with the existing LIHTC inventory, contribute to the complex landscape of housing affordability in Bakersville.
