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Affordable Housing in Boise's Sunset Neighborhood: LIHTC Impact Over Two 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
The Sunset neighborhood in Boise City, Idaho, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 75 affordable housing units, all of which are designated as low-income units. This LIHTC-funded inventory plays a substantial role in addressing the neighborhood's affordable housing needs.
Based on the 2022 population of 3,030 and the national average household size of 2.61, an estimated 1,161 housing units exist in the neighborhood. The 75 LIHTC-funded affordable units constitute approximately 6.5% of this estimated housing inventory, indicating a notable contribution of LIHTC projects to the neighborhood's affordable housing stock.
The LIHTC program has invested $205,404 in tax credits for affordable housing projects in the Sunset neighborhood. This amount equates to an average of $2,739 in federal funding per unit. The neighborhood has benefited from LIHTC-funded affordable housing for nearly two decades, with the first project, Magnolia Apts, completed in 1991, and the most recent, Apple Pointe, in 2009.
The 2000s witnessed the most recent affordable housing development in the neighborhood. The inventory comprises a mix of unit types, including 8 one-bedroom units, 14 two-bedroom units, and 44 three-bedroom units, accommodating diverse household sizes and needs.
Over the past decade, the Sunset neighborhood has experienced population growth, increasing from 2,656 in 2015 to 3,030 in 2022. Median income has also risen, from $59,458 in 2015 to $65,669 in 2022, indicating improving economic conditions for residents.
The racial composition of the neighborhood has remained relatively stable, with a slight decrease in the white population from 87% in 2015 to 81% in 2022, and a small increase in Hispanic residents from 2% to 9% during the same period. This gradual diversification may influence future affordable housing needs and development considerations.
The Sunset neighborhood in Boise City has a significant LIHTC-funded affordable housing presence, with 75 low-income units representing about 6.5% of the estimated housing inventory. The area has seen LIHTC investments spanning nearly two decades, with projects completed in both the 1990s and 2000s. The neighborhood has experienced population growth and rising median incomes over the past decade, along with slight shifts in racial composition. These demographic changes may influence future affordable housing needs and development in the area.
