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Affordable Housing in Huntington, Indiana: LIHTC Program Implementation and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Huntington, Indiana, a city with a population of 21,504 as of 2022, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its residential landscape. The city's LIHTC inventory comprises 287 affordable units, all of which are classified as low-income. This represents approximately 3.5% of Huntington's estimated 8,239 housing units.
The development of LIHTC funded affordable housing in Huntington spans a 12-year period, from 1995 to 2007. This timeframe demonstrates a consistent effort to provide affordable housing options within the city. The first LIHTC project, Cedar Run At The Forks Of The Wabash, was completed in 1995, while the most recent, Central School Apts, was finished in 2007.
Huntington's LIHTC program includes approximately five projects, with the 1990s being the most active period for affordable housing development. Significant projects from this era include Cedar Run At The Forks Of The Wabash (1995), Horace Mann Apts (1998), and Hauenstein Hills Apts (1999). The LIHTC funded projects offer a range of housing options, including 35 one-bedroom units, 99 two-bedroom units, 62 three-bedroom units, and 6 four-bedroom units. This distribution indicates an effort to accommodate various household sizes, with a focus on families requiring two and three-bedroom homes.
Huntington's population has experienced a slight decline over the past decade, decreasing from 21,830 in 2013 to 21,504 in 2022. However, the median income has increased from $45,438 in 2013 to $49,028 in 2022, suggesting an overall improvement in economic conditions for residents.
The racial composition of Huntington has remained relatively stable, with a predominantly white population (93% in 2022). There has been a minor increase in diversity, with small growth observed in Asian, Hispanic, and multiracial populations.
Although no new LIHTC projects have been recorded in the last decade, the existing affordable housing stock continues to serve an important function in meeting the needs of low-income residents, particularly considering the city's median income levels.
In conclusion, Huntington's LIHTC funded affordable housing inventory, while comprising a small percentage of the total estimated housing stock, provides significant housing options for low-income residents. The city experienced substantial affordable housing development in the late 1990s and early 2000s, resulting in a diverse range of unit types to accommodate various household sizes. Despite a slight population decline, rising median incomes indicate evolving housing needs that may influence future affordable housing strategies in Huntington.
