Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cleveland, Mississippi, a city in the Mississippi Delta region, is home to Delta State University and has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 415 total LIHTC units, with 301 designated as low-income units. Based on an estimated housing inventory of 5,758 units, LIHTC-funded affordable housing comprises approximately 7.2% of the city's housing stock.
Cleveland has received $3,996,957 in project tax credits through the LIHTC program. With approximately 8 projects, this translates to an average federal funding of $499,620 per project and $9,631 per unit. The city holds 1.47% of the total state LIHTC funding, indicating a notable allocation for a city of its size.
The first LIHTC project in Cleveland was completed in 2004 with Cleveland Pch Residential Living, while the most recent project, South Central Village Of The Elderly, was completed in 2020. This 16-year span demonstrates a consistent commitment to affordable housing development in the city.
The 2010s saw the most affordable housing activity, with four projects completed in 2011 alone, including Turntable Place and United Family Life Village II and III. This decade marked a significant expansion of affordable housing options in Cleveland.
The LIHTC-funded projects in Cleveland offer a diverse range of unit types, including 79 efficiencies, 66 one-bedroom units, 64 two-bedroom units, 118 three-bedroom units, and 34 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, Cleveland's population has shown a slight decline, from 16,186 in 2010 to 15,029 in 2022. Despite this, the median income has increased from $36,675 in 2015 to $47,455 in 2022, suggesting improved economic conditions for some residents.
The racial composition of Cleveland has remained relatively stable, with a slight decrease in the White population (from 44% in 2013 to 39% in 2022) and a consistent Black population (around 53-54%). There has been a small increase in diversity, with growth in the Hispanic population (from 0% in 2013 to 2% in 2022) and those identifying as two or more races (from 0% in 2013 to 4% in 2022).
The completion of South Central Village Of The Elderly in 2020 aligns with the city's demographic trends, potentially addressing the needs of an aging population or those on fixed incomes despite the overall increase in median income.
Cleveland, Mississippi has maintained a steady commitment to affordable housing through the LIHTC program over the past two decades. The city's LIHTC-funded projects provide a diverse range of housing options, catering to various household sizes and needs. While the population has slightly decreased, the increase in median income and subtle shifts in racial demographics suggest a changing socioeconomic landscape. The continued investment in affordable housing, as evidenced by recent projects, indicates an ongoing effort to meet the housing needs of low-income residents in Cleveland.