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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Central City, Nebraska, a small community with a population of 3,419 as of 2022, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city has 68 affordable units, all designated as low-income units. These LIHTC funded units constitute approximately 5.2% of the city's estimated housing stock of 1,310 units.
Central City has received $654,196 in project tax credits from the LIHTC program for affordable housing. With approximately 4 projects, this translates to an average federal funding of $163,549 per project or $9,620 per unit. Central City accounts for 0.55% of the total state funding for LIHTC projects in Nebraska.
The city's involvement with LIHTC funded affordable housing spans over two decades, beginning with the Lone Tree Village project in 1993 and the most recent addition being Emerson Estates in 2015. The 2000s saw the most activity in affordable housing development, with projects such as Bader North Apts in 2000 and Southeast Villa in 2007.
Of the 68 total units, 34 are two-bedroom units and 6 are three-bedroom units. This unit distribution indicates a focus on accommodating small to medium-sized families in the affordable housing inventory.
Central City's population has remained relatively stable over the last decade, ranging between 3,189 and 3,419 residents. The median income has shown an overall upward trend, increasing from $45,720 in 2013 to $53,267 in 2022, with some fluctuations in between. This economic improvement may have influenced the need for affordable housing in recent years.
Racial demographics have remained predominantly white, with a slight decrease from 93% in 2015 to 88% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 3% in 2015 to 7% in 2022, and the Asian population increasing to 3% by 2022. These demographic shifts, though minor, could potentially influence future affordable housing needs.
Central City's LIHTC funded affordable housing inventory represents a significant portion of the city's housing stock, covering about 5.2% of the estimated total units. The city has consistently invested in affordable housing over two decades, with projects spanning from 1993 to 2015. The focus appears to be on two-bedroom units, suggesting an emphasis on accommodating small families. While the population has remained stable, the slight increase in median income and minor shifts in racial demographics may influence future affordable housing needs in Central City.