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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Linden, a city in New Jersey, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory consists of 258 total units, with 253 designated as low-income units. This demonstrates a commitment to providing affordable housing options for its residents.
Based on the estimated housing inventory of 16,658 units, the LIHTC-funded affordable housing units represent approximately 1.55% of the city's total housing stock. This percentage is lower than the target range of 15-20% for affordable housing. However, LIHTC is only one of many programs that may contribute to the overall affordable housing inventory in Linden.
Linden has received $1,237,763 in project tax credits through the LIHTC program. With approximately 4 projects, this translates to an average of $309,441 in federal funding per project. When considering the total number of units, the average federal funding per unit is $4,798. Linden's LIHTC funding represents 0.17% of New Jersey's total state credits, indicating a modest share of the state's affordable housing investments.
The city's LIHTC-funded affordable housing projects span from 2005 to 2012, suggesting a relatively recent focus on affordable housing development. Notable projects include Oak Park Apartments, completed in 2005, and Morningstar Senior Citizen Housing, finished in 2012. The 2010s saw the most recent affordable housing project completions in Linden.
Over the past decade, Linden's population has grown from 40,744 in 2013 to 43,478 in 2022, an increase of about 6.7%. During this period, the median income rose from $74,309 in 2013 to $78,077 in 2022, representing a 5.1% increase.
The racial composition of Linden has become more diverse over the past decade. The Hispanic population increased from 28% in 2013 to 34% in 2022, while the White population decreased from 41% to 33%. The Black population remained relatively stable, changing from 26% to 27% during this period.
These demographic shifts, particularly the growing Hispanic population and the overall population increase, may indicate a changing need for affordable housing options in Linden. However, no new LIHTC projects have been recorded since 2012, which could suggest that other affordable housing initiatives or programs may be addressing the city's evolving needs.
Linden's LIHTC-funded affordable housing inventory, while modest in comparison to the city's total estimated housing stock, represents an investment in providing low-income housing options. The city has received over $1.2 million in tax credits, funding 258 units across approximately 4 projects. The most recent projects were completed in the early 2010s, coinciding with demographic shifts including population growth and increased racial diversity. While the LIHTC program has contributed to Linden's affordable housing landscape, a comprehensive understanding of the city's affordable housing situation would require consideration of additional housing programs and initiatives beyond LIHTC.