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Affordable Housing in Litchfield, Michigan: A Two-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Litchfield, a small city in Michigan, has a modest but significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has a total of 63 affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 835 units, the LIHTC funded affordable housing covers approximately 7.5% of the city's housing stock.
Litchfield has received $199,319 in LIHTC funding for affordable housing projects. With two approximate projects, this translates to an average federal funding of $99,659.50 per project. When considering the total number of units, the average federal funding per unit is $3,164.75. Notably, Litchfield holds 0.07% of Michigan's total LIHTC funding, indicating a small but important contribution to the state's affordable housing efforts.
The city's affordable housing journey spans nearly two decades, with the first LIHTC project, Litchfield Apartments, completed in 1991, and the most recent, Friendship Village Apartments, in 2008. The 2000s marked the decade with the most recent affordable housing development in Litchfield.
Litchfield's LIHTC funded housing inventory consists of a mix of unit types. The city has 12 one-bedroom units and 16 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Analyzing demographic trends over the past decade, Litchfield's population has shown a slight decline, decreasing from 2,328 in 2015 to 2,181 in 2022. The median income has fluctuated but generally increased from $40,316 in 2015 to $44,031 in 2022. The racial composition of the city has remained relatively stable, with a predominantly white population (96% in 2022) and small percentages of other racial groups.
In summary, Litchfield's LIHTC funded affordable housing inventory, while modest in scale, plays a crucial role in providing low-income housing options for its residents. The city's investment in affordable housing, spanning from the early 1990s to the late 2000s, demonstrates a long-term commitment to addressing housing needs. Despite a slight population decline, the relatively stable demographic composition and increasing median income suggest a continued need for affordable housing options in the community.
