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Affordable Housing in Jerome, Idaho: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jerome, located in Idaho, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory consists of 275 total units, with 245 of these designated as low-income units. Based on the estimated 5,369 housing units in the city, the LIHTC-funded affordable housing covers approximately 5.1% of the city's housing inventory.
Jerome has received $2,222,063 in project tax credits through the LIHTC program. With 8 approximate projects, this translates to an average of $277,758 in federal funding per project. When divided by the total units, it amounts to about $8,080 in federal funding per unit. The city holds 2.75% of Idaho's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts.
The LIHTC program has been active in Jerome since 1998, with the most recent project completed in 2011. This 13-year span demonstrates a sustained effort to provide affordable housing in the community. The projects Baltray, Prestwick, and Western Gailes were among the first completed in 1998, while Windwood represents the most recent addition in 2011. The 2000s saw the most activity, with five projects completed during this decade.
The LIHTC-funded housing in Jerome offers a diverse range of unit sizes. The inventory includes 45 one-bedroom units, 110 two-bedroom units, 66 three-bedroom units, and 1 four-bedroom unit. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on small to medium-sized families.
Over the past decade, Jerome has experienced population growth, increasing from 12,329 in 2015 to 14,014 in 2022. The median income has also risen, from $42,892 in 2015 to $50,135 in 2022. The Hispanic population has grown from 34% in 2015 to 45% in 2022, while the white population has decreased from 63% to 50% during the same period.
Despite this population growth and demographic shift, no new LIHTC projects have been completed since 2011. This could suggest that other housing programs or initiatives may be addressing the changing needs of the community, or that there might be a potential gap in affordable housing development that needs attention.
Jerome's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The program has provided consistent support for affordable housing over more than a decade, with a diverse range of unit sizes to accommodate different household needs. While the city has experienced population growth and demographic changes in recent years, there has not been new LIHTC development since 2011. This analysis highlights the historical impact of LIHTC in Jerome and suggests potential areas for future consideration in affordable housing development.
