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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenville, Mississippi, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 251 units, with 243 designated as low-income units. This inventory represents approximately 2.07% of the city's estimated housing stock, based on a 2022 population of 31,712 and an estimated 12,150 housing units.
The city has received $4,332,617 in project tax credits for affordable housing through the LIHTC program. With 11 approximate projects, this translates to an average of $393,874 in federal funding per project and about $17,261 per unit. Greenville's LIHTC funding accounts for 1.59% of the total state allocation.
Greenville's involvement with LIHTC-funded affordable housing began in 1989 with the Ludwig I and Ludwig II projects. The most recent project, Broadway Estates, was completed in 2008, spanning nearly two decades of development. The 1990s saw the most activity, with seven projects completed during this period.
The LIHTC-funded housing stock in Greenville includes a mix of unit sizes: 99 two-bedroom units, 134 three-bedroom units, and 18 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes. Two projects, Cauley Estates (1998) and Riverwalk Apts Phase II (2002), were specifically designed for single-parent families.
Greenville has experienced a steady population decline over the past decade, from 34,737 in 2015 to 31,712 in 2022. Despite this decrease, the median income has shown a general upward trend, rising from $32,544 in 2015 to $34,622 in 2022. The racial composition has remained relatively stable, with the Black population consistently representing about 80% of the city's residents.
No new LIHTC projects have been recorded in Greenville since 2008. This could be related to the declining population, which might have reduced the immediate need for additional affordable housing units. However, the rising median income could potentially indicate a growing disparity between income levels, suggesting a continued need for affordable housing options.
Greenville's LIHTC-funded affordable housing inventory represents a small but significant portion of its estimated housing stock. The city has leveraged federal funding to create a diverse range of affordable units, with a particular focus on family-sized apartments. While the development of new LIHTC projects has slowed in recent years, demographic trends suggest that affordable housing remains an important consideration for the city. The consistent racial composition and fluctuating income levels underscore the ongoing need for diverse and accessible housing options in Greenville.