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Affordable Housing in Houma: LIHTC Impact on Louisiana's Coastal City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Houma, Louisiana, with a population of 40,371 in 2022, is characterized by its Cajun culture and Gulf Coast proximity. The Low-Income Housing Tax Credit (LIHTC) program has funded 248 units in the city, with 84 designated as low-income. This represents approximately 1.6% of Houma's estimated 15,468 housing units.
Houma has received $1,771,578 in LIHTC project tax credits, accounting for 1.46% of Louisiana's total LIHTC allocation. The city has approximately 5 LIHTC projects, averaging $354,316 in federal funding per project, or $7,144 per unit. The LIHTC-funded affordable housing development in Houma spans from 1997 to 2012, with Bonne Terre Village Apartments being the first project and Barataria Station Apartments II the most recent.
The 2010s were the most active period for affordable housing development in Houma, with three projects completed: Bonne Terre Village II (2010), Terrebonne Revitalization Company (2011), and Barataria Station Apartments II (2012). The LIHTC-funded projects in Houma comprise 2 efficiencies, 224 one-bedroom units, and 22 two-bedroom units, indicating a focus on housing for individuals or small families.
Houma's population has remained relatively stable over the past decade, fluctuating between 40,000 and 42,000 residents. The median income has varied from approximately $57,000 to $63,000. The racial composition has been consistent, with about 66-68% of the population identifying as white and 20-21% as Black. The Hispanic population has increased slightly from 3% to 4-5% during this period.
The absence of new LIHTC projects since 2012 may be related to the stability in population and income levels, potentially suggesting that the existing affordable housing stock has been sufficient for the city's needs.
Houma's LIHTC-funded affordable housing inventory represents a significant investment in addressing low-income housing needs, despite its modest size compared to the total housing stock. The city's proportion of state LIHTC funding and the distribution of units across different sizes reflect a targeted approach to affordable housing development. The concentration of projects in the early 2010s, followed by a period without new LIHTC developments, aligns with the city's stable demographic trends over the past decade.
