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Affordable Housing in Marion, Iowa: LIHTC Program's Impact on Urban Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marion, Iowa, a city with a population of 49,059 as of 2022, possesses a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 404 total units, including 277 low-income units. This inventory represents approximately 2.15% of the city's estimated 18,797 housing units.
Marion has received $2,351,147 in project tax credits for affordable housing through the LIHTC program. With approximately 5 projects, this equates to an average federal funding of $470,229 per project and $5,820 per unit. The city holds 1.12% of the total state LIHTC funding, indicating a modest share of Iowa's affordable housing resources.
The LIHTC program in Marion spans from 2001 to 2017, demonstrating a 16-year commitment to affordable housing development. The first project, Lynnwood Apts, was completed in 2001, while the most recent, Blairs Ferry Senior, was finished in 2017. The 2010s saw the most significant affordable housing activity, with notable projects such as The Arbor At Lindale Trail (2016) and Blairs Ferry Senior (2017).
The LIHTC-funded housing inventory in Marion includes a range of unit types: 51 one-bedroom units, 240 two-bedroom units, 86 three-bedroom units, and 8 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Marion's population has grown steadily, increasing from 41,794 in 2010 to 49,059 in 2022. The median income has risen from $74,106 in 2013 to $76,833 in 2022, suggesting an improving economic situation for residents. However, this growth may also contribute to increased housing costs, potentially increasing the need for affordable options.
The racial composition of Marion has remained predominantly white, decreasing slightly from 92% in 2013 to 89% in 2022. Small increases have occurred in the Hispanic, Black, and Asian populations, as well as those identifying as two or more races. This gradual diversification may influence future affordable housing needs and considerations.
Marion's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has consistently developed affordable housing projects over nearly two decades, with the most recent activity occurring in the 2010s. While the current inventory covers only a fraction of the estimated housing units, it provides essential support for low-income residents. The city's growing population and changing demographics suggest an ongoing need for affordable housing options. The diverse unit types available through LIHTC projects address various household sizes and needs within the community.
