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Affordable Housing in Detroit's Boynton Neighborhood: An Analysis of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Boynton, a neighborhood in Detroit, Michigan, has a population of 8,419 as of 2022. The area features one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 3 units, with 2 designated as low-income units. This LIHTC-funded housing represents approximately 0.09% of the neighborhood's estimated 3,226 housing units.
The LIHTC program has invested $112,210 in tax credits for affordable housing in Boynton, averaging $37,403 per unit. The single LIHTC project, "Across The Park Apts," was completed in 2011 and has been operational for over a decade. The project consists of 2 one-bedroom units and 1 two-bedroom unit, with no efficiencies, three-bedroom, or four-bedroom units.
Boynton's population has remained relatively stable over the past decade, with minor fluctuations. The neighborhood's median income has increased significantly, rising from $25,398 in 2018 to $41,420 in 2022. This upward trend in median income may indicate a reduced need for additional affordable housing in recent years.
The racial composition of Boynton has changed over the last decade. The Black population, while still the majority, has decreased from 88% in 2013 to 78% in 2022. Concurrently, the Hispanic population has increased from 3% in 2013 to 10% in 2022. The white population has remained relatively stable at around 7-8% throughout this period.
Boynton's LIHTC-funded affordable housing inventory consists of a single project completed in 2011, providing 3 units to the community. This represents a small percentage of the estimated housing stock. The rising median income over the past few years suggests potential economic improvements in the area. The racial composition has experienced some shifts, with a slight decrease in the Black population and an increase in Hispanic residents. These demographic changes and economic trends may influence future affordable housing needs and development in Boynton.
