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Affordable Housing in Martin Acres: 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
Martin Acres, a neighborhood in Boulder, Colorado, had a population of 4,048 in 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 59 low-income units. This project represents approximately 3.8% of the neighborhood's estimated 1,551 housing units.
The LIHTC program has invested $486,644 in tax credits for affordable housing in Martin Acres, averaging $8,248 per unit. The single LIHTC project, High Mar, was completed in 2014, initiating LIHTC-funded affordable housing in the neighborhood.
High Mar consists of 59 units, all designated as low-income housing. The project includes 38 one-bedroom apartments and 21 two-bedroom apartments, indicating a focus on smaller households and families.
Since High Mar's completion in 2014, Martin Acres has experienced demographic changes. The population decreased from 4,136 in 2014 to 4,048 in 2022, a 2.1% decline. Median income has fluctuated between $60,134 and $74,119, with the most recent data showing $62,721 in 2022.
Racial demographics have shifted. The white population decreased from 85% in 2014 to 76% in 2022, while the Hispanic population increased from 5% to 13%. The Asian population decreased from 6% to 3%, with other racial groups remaining relatively stable. These changes, particularly the increase in the Hispanic population and slight decrease in median income, may indicate a growing need for affordable housing in the neighborhood.
Martin Acres has one LIHTC-funded affordable housing project, High Mar, completed in 2014, providing 59 low-income units. This accounts for about 3.8% of the estimated housing inventory. The project received $486,644 in tax credits, averaging $8,248 per unit. Despite a slight population decrease since 2014, notable changes in racial demographics and fluctuations in median income suggest an ongoing need for affordable housing options in Martin Acres.
