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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Elliott, Mississippi, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 36 affordable units, with 35 designated as low-income units. Based on the 2022 population of 1,720 and an estimated 659 housing units, LIHTC-funded affordable housing comprises approximately 5.5% of the city's estimated housing inventory.
The LIHTC program has contributed $69,085 in tax credits to Elliott for affordable housing development. This equates to an average federal funding of $69,085 per project and approximately $1,919 per unit. Elliott's LIHTC funding represents 0.03% of Mississippi's total state LIHTC allocation.
The single LIHTC project in Elliott, Elliot Properties Apts, was completed in 2003. This project has provided affordable housing in the city for nearly two decades. The development consists of 4 one-bedroom units, 28 two-bedroom units, and 4 three-bedroom units, accommodating various household sizes.
Elliot Properties Apts specifically targets single-parent families, addressing a crucial need in the community. This focus helps provide stable housing for a potentially vulnerable population, supporting family stability and child development.
Elliott has experienced population fluctuations over the past decade, with a general declining trend from 2,393 in 2015 to 1,720 in 2022. The median income has shown variability, increasing from $34,466 in 2017 to $48,070 in 2022. This income growth may indicate changing economic conditions in the area.
Racial demographics have also shifted, with the white population increasing from 70% in 2017 to 88% in 2022, while the Black population decreased from 26% to 12% during the same period. The proportion of residents identifying as two or more races has remained relatively stable, around 2-3% in recent years.
Elliott's LIHTC-funded affordable housing project, while modest in scale, provides important housing options for low-income residents, particularly single-parent families. The project accounts for approximately 5.5% of the city's estimated housing inventory. While no new LIHTC projects have been developed recently, the existing project continues to serve the community. The changing demographics and increasing median income in Elliott may influence future affordable housing needs and development strategies.