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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Ellett/Jennelle neighborhood in Blacksburg, Virginia, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 78 LIHTC affordable units, all designated as low-income. These units represent approximately 5.05% of the estimated 1,545 housing units in the neighborhood.
The LIHTC program has invested $707,731 in total project tax credits in this neighborhood, averaging $9,073 per affordable unit. Affordable housing development has been consistent over time, with projects completed from 1999 to 2005. This indicates a six-year period during which affordable housing was a key component of the neighborhood's development.
The early 2000s were particularly active for affordable housing development in this area. Cedar Crest I, II, and III were completed in 1999, 2000, and 2005 respectively, demonstrating a sustained effort to expand affordable housing options in the neighborhood.
The LIHTC funded projects in Ellett/Jennelle offer various unit types to accommodate different household sizes. The inventory includes 2 one-bedroom units, 35 two-bedroom units, and 22 three-bedroom units. This distribution suggests a focus on housing for small to medium-sized families.
The neighborhood has experienced demographic changes over the past decade. The population has fluctuated, reaching 5,197 in 2017 and decreasing to 4,032 in 2022. Median income has shown variability, peaking at $64,157 in 2018, dropping to $39,810 in 2021, and rising to $52,129 in 2022. This income volatility may indicate an ongoing need for affordable housing options.
Racial demographics have remained relatively stable, with the white population consistently representing the majority (84% in 2022). There has been a slight increase in diversity, with the Asian population remaining at 4% and an increase in residents identifying as two or more races (from 1% in 2013 to 5% in 2022).
The Ellett/Jennelle neighborhood demonstrates a consistent commitment to affordable housing through its LIHTC funded projects. The 78 low-income units developed over a six-year period have contributed to providing housing options for lower-income residents. The variety of unit sizes indicates an effort to accommodate diverse household needs. While the LIHTC funded units represent a small percentage of the estimated housing inventory, they contribute significantly to the neighborhood's affordable housing stock. The demographic trends, particularly the fluctuations in median income, underscore the ongoing importance of maintaining and potentially expanding affordable housing options in this area.