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Affordable Housing in Lincoln's 40th & A Neighborhood: A Two-Decade LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 40th & A neighborhood in Lincoln, Nebraska, features a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 28 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 4,036 and an estimated 1,546 housing units, the LIHTC funded affordable housing comprises approximately 1.81% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $196,389 in tax credits for affordable housing in this neighborhood. This investment translates to an average federal funding of $7,014 per unit. The New Heights Living Community, completed in 1997, represents the sole LIHTC funded project in the area. This project has been providing affordable housing options for over two decades.
The New Heights Living Community consists of 28 units, with a mix of two-bedroom and three-bedroom apartments. Specifically, there are 16 two-bedroom units and 12 three-bedroom units, catering to various family sizes and needs within the low-income population.
Over the past decade, the neighborhood's population has fluctuated, with a slight decrease from 4,417 in 2015 to 4,036 in 2022. The median income has shown some variability, ranging from a high of $64,441 in 2018 to $58,114 in 2022. This suggests a relatively stable economic environment with some fluctuations.
Racial demographics have remained predominantly white, though there has been a slight increase in diversity. The percentage of white residents decreased from 91% in 2015 to 88% in 2022, with small increases in Hispanic, Asian, and Black populations. This gradual diversification might indicate changing housing needs in the community.
The 40th & A neighborhood in Lincoln, Nebraska, has a single LIHTC funded affordable housing project that has been serving the community since 1997. While it covers a small percentage of the estimated housing inventory, it provides 28 low-income units with a mix of two and three-bedroom apartments. The neighborhood has experienced slight demographic shifts over the past decade, including a small decrease in population and gradual increase in diversity. These trends, along with fluctuations in median income, may influence future affordable housing needs in the area.
