The sole LIHTC-funded project in Hallstead is the Emerson Southgate Apartments, completed in 2010. This project marks the beginning of LIHTC-funded affordable housing in the city, providing over a decade of affordable housing options for residents.

The Emerson Southgate Apartments project consists of 24 units, with a distribution of 22 one-bedroom units and 2 two-bedroom units. This unit mix suggests a focus on accommodating smaller households or individuals in need of affordable housing.

Analyzing demographic trends over the past decade, Hallstead has experienced fluctuations in population. The population decreased from 1,692 in 2010 to a low of 1,050 in 2015, before gradually increasing to 1,345 in 2022. This recent population growth may indicate an increasing demand for housing, including affordable options.

Median income in Hallstead has shown variability, with a general downward trend in recent years. The median income decreased from $45,999 in 2015 to $35,576 in 2022, which could suggest an increasing need for affordable housing options in the community.

Racial demographics in Hallstead have remained relatively stable, with the majority of the population consistently identifying as white. The most recent data shows a slight increase in diversity, with small percentages of Hispanic, Asian, and multiracial residents.

In summary, the LIHTC program has contributed to Hallstead's affordable housing inventory through the Emerson Southgate Apartments project. While the LIHTC-funded units represent a small portion of the overall housing stock, they provide important affordable housing options for the community. The recent population growth and declining median income trends suggest that continued attention to affordable housing needs may be beneficial for Hallstead's residents.