Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Emslie, a neighborhood in Buffalo, New York, contains a significant proportion of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 74 affordable units, all designated as low-income. Based on the 2022 population of 1,848 and using the national average household size, the estimated housing inventory is approximately 708 units. LIHTC funded affordable housing comprises about 10.45% of the neighborhood's estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC program has invested $484,751 in tax credits for affordable housing projects in Emslie. This equates to an average federal funding of approximately $6,550 per unit. The neighborhood has seen LIHTC-funded affordable housing projects since 1994, with the most recent project completed in 2009. This 15-year span demonstrates a sustained commitment to affordable housing in the area.
The 2000s saw the most significant affordable housing development in Emslie, with the completion of the Ad Price project in 2009. This project added 55 units to the neighborhood's affordable housing inventory, including 8 one-bedroom, 33 two-bedroom, and 14 three-bedroom units. The earlier project, St Ann's Apts, completed in 1994, contributed 19 one-bedroom units.
In total, the LIHTC-funded projects in Emslie provide a range of unit types, with 27 one-bedroom, 33 two-bedroom, and 14 three-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, Emslie has experienced demographic shifts. The population has grown from 1,340 in 2018 to 1,848 in 2022, an increase of about 38%. During this period, the median income has risen from $23,791 in 2018 to $28,844 in 2022, indicating some economic improvement in the neighborhood.
Racial demographics have also changed. The Black population, while still the majority, has decreased from 83% in 2018 to 68% in 2022. Concurrently, there has been an increase in racial diversity, with growth in the Asian population (from 0% to 6%) and those identifying as "Other" (from 0% to 10%).
These demographic changes, particularly the population growth and increasing median income, suggest a potential need for additional affordable housing beyond what was built in 2009. The rising income levels might also indicate a need for a mix of affordable and market-rate housing to maintain neighborhood balance.
Emslie's affordable housing landscape is characterized by two LIHTC-funded projects providing 74 low-income units, covering about 10.45% of the estimated housing inventory. The neighborhood has seen a significant investment in affordable housing, with an average of $6,550 in tax credits per unit. The most recent project, completed in 2009, expanded the affordable housing options with a variety of unit sizes.
Over the past decade, Emslie has experienced population growth, increasing median income, and shifting racial demographics. These changes suggest an evolving neighborhood with potentially changing housing needs. While the existing LIHTC projects contribute substantially to the affordable housing stock, the recent demographic trends may indicate a need for ongoing assessment of affordable housing requirements in the neighborhood.