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Affordable Housing in Belding, Michigan: LIHTC-Funded Projects Over Three Decades
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Belding, a city in Michigan, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This small city, with a population of 6,999 in 2022, has 144 total units in LIHTC-funded projects, of which 143 are designated as low-income units. Based on an estimated housing inventory of approximately 2,682 units, the LIHTC-funded affordable housing covers about 5.4% of the city's housing stock.
Belding has benefited from LIHTC funding for affordable housing over several decades. The city has four LIHTC-funded projects, with the earliest, Crosswinds Manor, completed in 1991, and the most recent, Brentwood II Apts, finished in 2003. This indicates a span of at least 12 years during which affordable housing has been consistently developed in Belding.
The 1990s saw the most activity in affordable housing development, with three out of the four projects completed during this decade. These include Jacklyn Apts I in 1996 and Jacklyn Apts III in 1998, in addition to the aforementioned Crosswinds Manor.
Regarding unit types, the LIHTC-funded projects in Belding offer a mix of one-bedroom and two-bedroom units. Specifically, there are 64 one-bedroom units and 80 two-bedroom units, providing options for various household sizes within the low-income community.
Over the past decade, Belding's population has remained relatively stable, with minor fluctuations. The population decreased from 6,801 in 2014 to 6,665 in 2017, then increased to 6,999 by 2022. This overall stability suggests a consistent demand for housing, including affordable options.
Median income in Belding has shown an upward trend, rising from $40,861 in 2014 to $49,121 in 2022. This increase of about 20% over eight years might indicate improving economic conditions for some residents, but it is important to note that rising incomes can also lead to increased housing costs, potentially maintaining or even increasing the need for affordable housing options.
Regarding racial demographics, Belding has remained predominantly white over the past decade, with the white population consistently accounting for over 88% of residents. The Hispanic population has slightly decreased from 7% in 2014 to 4% in 2022, while the percentage of residents identifying as two or more races has increased from 2% to 7% over the same period.
Belding's LIHTC-funded affordable housing inventory, while modest in size, provides an important resource for low-income residents. The four projects, developed between 1991 and 2003, offer 144 units, primarily consisting of one and two-bedroom apartments. This inventory represents about 5.4% of the estimated total housing stock in the city.
While no new LIHTC projects have been completed in Belding since 2003, the city's stable population and gradually increasing median income suggest a continuing need for affordable housing options. The racial composition of the city has remained relatively consistent, with a slight increase in diversity over the past decade.
This analysis provides a snapshot of Belding's LIHTC-funded affordable housing landscape and its relationship to the city's demographic trends. It is important to note that other affordable housing programs may also contribute to meeting the city's low-income housing needs, which are not captured in this LIHTC-specific data.
