Loading Content...
Affordable Housing in Camillus: LIHTC Program's Impact on a Small New York Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Camillus, located in New York state, maintains a small Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village has 39 units in LIHTC-funded projects, with 29 designated as low-income units. These units represent approximately 2.8% of the estimated 1,413 housing units in the city.
The LIHTC program has allocated $304,969 in tax credits for affordable housing projects in Camillus. This funding is distributed across two projects, resulting in an average of $152,485 in federal funding per project. When considering the total number of units, the average federal funding per unit is $7,820. Camillus's share of the total state LIHTC funding is about 0.01%, indicating a relatively small portion of New York's overall affordable housing investment through this program.
The initial LIHTC project in Camillus, Union Free School Residential Conversion, was completed in 1993. The most recent project, Connelly Acres Apts, was finished in 2006. This indicates that LIHTC-funded affordable housing has been present in the city for at least 13 years. The 1990s and 2000s each saw the completion of one project. The housing units vary in size, including 1 efficiency, 4 one-bedroom units, 13 two-bedroom units, and 2 three-bedroom units.
Camillus has experienced minor population fluctuations over the past decade, with the most recent data indicating 3,689 residents in 2022. The median income has shown an overall increasing trend, rising from $87,190 in 2018 to $96,900 in 2022. Regarding racial distribution, the village has remained predominantly white, with a slight decrease from 94% in 2019 to 92% in 2022. There has been a small increase in Asian residents, from 2% in 2019 to 3% in 2022, while other racial groups have remained relatively stable.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and relatively stable population, potentially indicating a reduced need for additional low-income housing units.
Camillus has a small but established LIHTC-funded affordable housing inventory, representing about 2.8% of the estimated housing stock. The LIHTC program has invested over $300,000 in the village, supporting two projects that provide a mix of unit types. No new LIHTC projects have been developed in the past decade, which aligns with the village's rising median income and stable population trends. The demographic data suggests a relatively affluent community with limited racial diversity, which may influence the current demand for affordable housing in the area.
