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Affordable Housing in Detroit's Martin Park: A Two-Decade LIHTC Presence
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Martin Park, a neighborhood in Detroit, Michigan, contains 51 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, contribute to addressing the community's housing needs. Based on the 2022 population of 5,218 and the national average household size of 2.61, the neighborhood is estimated to have approximately 1,999 housing units. The LIHTC-funded affordable units represent about 2.55% of the estimated housing inventory.
The LIHTC-funded affordable housing in Martin Park has been present for over two decades. The first project, Pilgrim Village Manor Apts I, was completed in 1998, with Pilgrim Meadows following in 2001. This indicates a long-term commitment to providing affordable housing options in the neighborhood. The LIHTC inventory in Martin Park includes a variety of unit types: 2 one-bedroom units, 15 two-bedroom units, and 8 three-bedroom units. This mix suggests an effort to accommodate various household sizes.
Over the past decade, Martin Park has experienced demographic changes. The population has declined from 5,868 in 2015 to 5,218 in 2022. Despite this decrease, the median income has increased from $37,264 in 2015 to $49,245 in 2022. The racial composition has remained relatively stable, with a predominantly Black population. In 2022, 76% of residents identified as Black, 12% as White, 3% as Asian, and 7% as two or more races.
The demographic stability suggests that the existing LIHTC projects continue to serve the neighborhood's long-term residents. The increase in median income, coupled with the stable racial composition, may indicate that while the overall economic situation of the neighborhood is improving, there is still a need for affordable housing options to ensure economic diversity and prevent displacement of long-term residents.
Martin Park's LIHTC-funded affordable housing inventory, while modest in size, provides crucial low-income units to the neighborhood. The 51 units, representing about 2.55% of the estimated housing stock, offer a mix of one-, two-, and three-bedroom options. The presence of LIHTC projects since 1998 demonstrates a long-term commitment to affordable housing in the area.
Despite a slight population decline, the neighborhood has seen an increase in median income over the past decade. This economic shift, combined with the stable racial composition, underscores the ongoing importance of maintaining and potentially expanding affordable housing options to ensure Martin Park remains accessible to residents across various income levels.
