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Affordable Housing in Georgetown Community: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Georgetown Community in Jackson, Mississippi, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The neighborhood has 55 total units in LIHTC funded projects, all of which are designated as low-income units. This affordable housing inventory comprises approximately 11.1% of the neighborhood's estimated 496 housing units.
LIHTC funded affordable housing development in the Georgetown Community spans nearly a decade. The first project, Purdy Apts, was completed in 1988, while the most recent, Madeira Apts, was finished in 1996. The 1980s saw the most affordable housing development activity, with four out of the five projects completed during this decade. These projects include Purdy Apts, Purdy Apts I, Holmes Apts, and Holmes Street Apts.
The LIHTC funded housing stock in the neighborhood consists primarily of two-bedroom units, with 39 such units available. There are also 4 three-bedroom units, providing options for larger families. This unit mix accommodates various household sizes within the affordable housing inventory.
Over the past decade, the Georgetown Community has experienced demographic changes. The population decreased from 1,636 in 2020 to 1,294 in 2022. Median income fluctuated, reaching a peak of $29,018 in 2019 before settling at $23,490 in 2022. The racial composition of the neighborhood has remained predominantly Black, with a slight increase from 94% in 2020 to 95% in 2022. The white population increased from 1% to 3% during the same period.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be attributed to various factors, including changes in funding priorities or shifts in housing needs within the community.
The Georgetown Community's LIHTC funded affordable housing plays a crucial role in providing affordable options for residents. The existing projects, primarily developed in the 1980s and early 1990s, continue to serve the community. The lack of recent LIHTC developments suggests a need for assessment of current housing needs and potential opportunities for future affordable housing initiatives in the Georgetown Community.
