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Affordable Housing in Mason City: LIHTC Impact on Architectural Heritage
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mason City, Iowa, known for its architectural heritage including Frank Lloyd Wright designs, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 304 total units, with 264 designated as low-income units. This inventory represents approximately 2.85% of the city's estimated 10,665 housing units.
Mason City has received $3,360,100 in LIHTC project tax credits, distributed across approximately 8 projects. This results in an average of $420,013 per project and $11,053 per unit in federal funding. The city holds 1.59% of the total state LIHTC funding.
The LIHTC program in Mason City spans 28 years, with the first project completed in 1988 at 19 N Ohio Ave and the most recent, Legacy Manor Of Mason City II, completed in 2016. The 2000s saw the most affordable housing activity, with projects such as River City Apts (2003), Grant Village (2004), and Pebble Creek Apts Phase II (2004).
The LIHTC-funded projects in Mason City include 106 one-bedroom units, 133 two-bedroom units, 37 three-bedroom units, and 9 four-bedroom units. This distribution indicates accommodation for various household sizes, with a focus on one and two-bedroom units.
Mason City's population has declined slightly from 28,259 in 2013 to 27,835 in 2022. Despite this decrease, the median income has increased from $46,285 in 2013 to $57,229 in 2022. This income growth may suggest a reduced need for additional affordable housing units in recent years.
The racial composition of Mason City has remained relatively stable. The white population decreased from 91% in 2013 to 88% in 2022, with slight increases in Hispanic, Black, and Asian populations. These demographic shifts may influence future affordable housing needs and designs.
Mason City's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has developed affordable housing projects consistently over nearly three decades, focusing on one and two-bedroom units. While the population has slightly decreased, rising median incomes and subtle shifts in racial demographics may influence future affordable housing strategies. The city's allocation of state LIHTC funding and the distribution of unit types suggest a targeted approach to addressing local affordable housing needs.
