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Affordable Housing in Cascade Highlands: 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
Cascade Highlands, a neighborhood in Vancouver, Washington, contains 24 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, comprise approximately 1.68% of the estimated 1,428 housing units in the neighborhood, based on the 2022 population of 3,726 and the national average household size of 2.61.
The LIHTC program has invested $90,061 in tax credits for affordable housing in Cascade Highlands, averaging about $3,753 per unit. All 24 LIHTC-funded units are one-bedroom apartments in a single project, Wisteria Manor, completed in 2002. This project has no specified target population, potentially serving a diverse range of low-income residents.
Cascade Highlands has experienced demographic changes over the past decade. The population has remained relatively stable, fluctuating between 3,400 and 4,000 residents. Median income has shown an overall upward trend, increasing from $48,870 in 2013 to $64,492 in 2022, with some fluctuations in between.
The racial composition of the neighborhood has become more diverse. The white population has decreased from 77% in 2013 to 45% in 2022, while the Hispanic population has increased from 5% to 35% during the same period. The Asian population has grown slightly, from 10% to 11%.
Despite these demographic changes, no new LIHTC projects have been developed in Cascade Highlands since 2002. This could be attributed to various factors, including land availability, local zoning policies, or changes in funding priorities.
Cascade Highlands has a small but established LIHTC-funded affordable housing presence. While this represents only about 1.68% of the estimated housing inventory, it provides an important housing option for low-income residents. The neighborhood has experienced demographic shifts over the past decade, including increased diversity and rising median incomes. However, these changes have not resulted in additional LIHTC-funded developments. Further analysis of local housing policies and market conditions would be necessary to fully understand the affordable housing landscape in Cascade Highlands.
