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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Burley, Idaho, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 116 total units, with 114 designated as low-income units. Based on the 2022 population of 16,865 and an estimated 6,462 housing units, LIHTC-funded affordable housing represents approximately 1.79% of the city's estimated housing inventory.
Burley has received $1,494,882 in LIHTC funding for affordable housing projects. With approximately 4 projects, this translates to an average of $373,720.50 per project. The funding equates to about $12,887.78 per unit when considering the total 116 units in LIHTC-funded projects. Burley's LIHTC funding represents 1.85% of Idaho's total LIHTC allocation.
The city's LIHTC-funded affordable housing spans a decade, with the first project, Richlin Townhouses, completed in 2006, and the most recent, Homes At Riverwalk, finished in 2016. The 2010s saw the most activity, with two projects completed during this period: Partridge Park in 2013 and Homes At Riverwalk in 2016.
The unit distribution in Burley's LIHTC projects includes 66 two-bedroom units, 46 three-bedroom units, and 4 four-bedroom units, indicating a focus on accommodating families of various sizes.
Over the past decade, Burley has experienced population growth, increasing from 14,416 in 2010 to 16,865 in 2022. This 17% population increase coincides with the development of two LIHTC projects during this period, suggesting a response to growing housing needs.
The city's median income has risen significantly, from $43,901 in 2013 to $58,344 in 2022, representing a 32.9% increase. Despite this overall economic improvement, the continued development of LIHTC projects indicates an ongoing need for affordable housing options.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 69% in 2013 to 62% in 2022) and a small increase in the Hispanic population (from 29% in 2013 to 32% in 2022). This subtle shift might reflect a growing diversity in the community and potentially varied housing needs.
Burley's LIHTC-funded affordable housing inventory represents a consistent effort to address low-income housing needs over the past decade. The city's 116 LIHTC units, primarily consisting of two and three-bedroom apartments, cater to diverse family sizes. The steady implementation of LIHTC projects aligns with the city's population growth and changing demographics, indicating an ongoing commitment to providing affordable housing options despite rising median incomes. This suggests a nuanced approach to addressing housing affordability in a growing and evolving community.