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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jackson, Mississippi's capital city, possesses a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The LIHTC program has contributed 7,546 total units, with 6,220 designated as low-income units. This significant number of affordable housing units addresses the housing needs of Jackson's lower-income residents.
Based on Jackson's 2022 population of 146,019 and the national average household size, the estimated total housing inventory is approximately 55,946 units. LIHTC-funded affordable housing units represent about 13.5% of this estimated housing stock, indicating a substantial contribution to the city's affordable housing landscape.
Jackson has received $59,395,612 in project tax credits through the LIHTC program. With approximately 147 projects, this translates to an average of about $403,986 in federal funding per project, or roughly $7,870 per unit in federal support. Jackson holds 21.83% of Mississippi's total LIHTC funding, highlighting its importance in the state's affordable housing efforts.
The city's involvement in LIHTC-funded affordable housing spans several decades, with the earliest recorded projects dating back to 1987 and the most recent completed in 2020. This long-term commitment demonstrates Jackson's ongoing efforts to provide affordable housing options. The late 1980s and early 1990s saw a significant increase in affordable housing development, with numerous projects completed during this period.
Jackson's LIHTC-funded housing stock offers a diverse range of unit types. The inventory includes 85 efficiencies, 1,961 one-bedroom units, 3,083 two-bedroom units, 1,444 three-bedroom units, and 386 four-bedroom units. This variety caters to different household sizes and needs within the low-income population. Some LIHTC projects in Jackson target specific populations, such as single-parent families and veterans, addressing the unique housing needs of vulnerable groups within the community.
Over the past decade, Jackson has experienced a gradual decline in population, from 173,315 in 2010 to 146,019 in 2022. Despite this population decrease, the median income has shown some fluctuation, rising from $29,811 in 2013 to $40,631 in 2022. The racial composition of Jackson has remained relatively stable, with a slight increase in the Black population from 79% in 2013 to 81% in 2022, and a small decrease in the White population from 18% to 15% during the same period.
Jackson's LIHTC-funded affordable housing inventory represents a significant portion of the city's estimated housing stock. The long-term commitment to affordable housing development, diverse unit types, and targeted projects for specific populations demonstrate a comprehensive approach to addressing low-income housing needs. While the city has faced population decline, the continued investment in affordable housing through the LIHTC program remains crucial in ensuring housing accessibility for Jackson's lower-income residents.