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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
High Point Estates, a neighborhood in Madison, Wisconsin, contains 152 affordable housing units funded by Low-Income Housing Tax Credit (LIHTC). These units constitute approximately 9.5% of the estimated 1,603 housing units in the neighborhood, based on the 2022 population of 4,184 and the national average household size of 2.61.
The neighborhood features three LIHTC funded projects: Elver Park I, Elver Park II, and Elver Park III. These projects were completed between 1989 and 1990, indicating that affordable housing has been present in High Point Estates for over 30 years. The 1980s saw the most affordable housing development in this neighborhood, with two projects completed in 1989 and one in 1990.
All 152 units in these LIHTC funded projects are three-bedroom units, suggesting a focus on accommodating families or larger households. This uniform unit type may reflect the specific housing needs of the community at the time these projects were developed.
High Point Estates has experienced demographic shifts over the past decade. The population has fluctuated, peaking at 4,894 in 2018 and declining to 4,184 by 2022. Median income has varied, ranging from a high of $94,077 in 2014 to a low of $78,278 in 2018, before settling at $86,750 in 2022.
Racial demographics have shown notable changes. The white population has decreased from 64% in 2013 to 58% in 2022, while the Asian population has increased from 14% to 19% during the same period. The Black population has increased slightly from 5% to 9%. The Hispanic population has remained relatively stable, fluctuating between 12% and 18% over the decade.
These demographic shifts, particularly the changes in racial composition and income levels, may influence the ongoing need for affordable housing in the neighborhood. However, as no new LIHTC projects have been built in the last decade, other factors or housing programs may be addressing any additional affordable housing needs in High Point Estates.
High Point Estates has a significant LIHTC funded affordable housing presence, with 152 units built between 1989 and 1990. These units, all three-bedrooms, represent about 9.5% of the estimated housing inventory. This falls short of the target 15-20% affordable housing stock, but other programs may contribute to the overall affordable housing landscape.
The neighborhood has experienced demographic changes over the past decade, including shifts in racial composition and fluctuations in median income. These changes may impact the ongoing affordable housing needs of the community. The long-standing presence of LIHTC funded housing in High Point Estates demonstrates a historical commitment to providing affordable options, but the lack of new projects in recent years suggests that current housing needs may be met through other means or that the focus of affordable housing development may have shifted to other areas.