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Affordable Housing in Des Moines' Carpenter Neighborhood: 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
The Carpenter neighborhood in Des Moines, Iowa, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 30 units, all designated as low-income. This affordable housing stock plays a crucial role in addressing the community's housing needs.
Based on the 2022 population of 587 and the national average household size of 2.61, the neighborhood is estimated to have approximately 225 housing units. The 30 LIHTC-funded affordable units represent about 13.3% of the estimated housing inventory, a substantial portion approaching the target range of 15-20% for a well-balanced community.
The LIHTC projects in the Carpenter neighborhood have received $580,804 in tax credits. This translates to an average of about $19,360 in federal funding per unit, demonstrating a significant investment in affordable housing for the area.
The neighborhood has had LIHTC-funded housing since 1989, with the project "1303 22Nd St" marking the beginning of affordable housing development in the area. The most recent project, "Forest & Fields," was completed in 2012, indicating over two decades of affordable housing presence in the neighborhood. The 2010s saw the most significant development in affordable housing, with the largest project, "Forest & Fields," adding 28 units to the inventory.
The LIHTC-funded housing in Carpenter primarily consists of three-bedroom units, with 28 such units available. This configuration suggests a focus on accommodating families or larger households within the affordable housing stock.
Over the past decade, the Carpenter neighborhood has experienced fluctuations in population, with an increase from 630 in 2020 to 902 in 2021, followed by a decrease to 587 in 2022. The median income has shown an overall upward trend, rising from $11,124 in 2013 to $21,224 in 2022, despite some year-to-year variations.
Racial demographics have also shifted. The Hispanic population has remained a significant portion of the community, ranging from 42% to 57% over the past decade. The White population has increased from 18% in 2013 to 41% in 2022, while the Black population has fluctuated between 10% and 30% during this period.
The completion of the "Forest & Fields" project in 2012 aligns with a period of population growth and increasing diversity in the neighborhood, suggesting that the LIHTC development may have responded to changing housing needs in the community.
The Carpenter neighborhood in Des Moines has a substantial LIHTC-funded affordable housing presence, with 30 units representing about 13.3% of the estimated housing inventory. The area has benefited from LIHTC investments since 1989, with the most significant development occurring in 2012. The focus on three-bedroom units indicates an emphasis on family-oriented affordable housing. Over the past decade, the neighborhood has experienced population fluctuations, increasing median income, and evolving racial demographics, which may have influenced and been influenced by the affordable housing developments in the area.
