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Affordable Housing in Millersville: LIHTC Project Amidst Demographic Shifts
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Millersville, a neighborhood in Indianapolis, Indiana, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 59 affordable housing units, all of which are designated as low-income units. Based on the 2022 population of 8,740 and an estimated 3,349 housing units, the LIHTC-funded affordable housing represents approximately 1.76% of the neighborhood's estimated housing inventory.
The LIHTC project in Millersville received $277,690 in tax credits, equating to an average federal funding of $4,707 per unit. The project, named Point On Fall Creek, was completed in 2013, marking the introduction of LIHTC-funded affordable housing in the neighborhood. The development consists of 38 one-bedroom units and 21 two-bedroom units, offering a range of housing options for different household sizes. This distribution indicates a focus on accommodating smaller households.
Over the past decade, Millersville has experienced population growth, increasing from 7,642 in 2013 to 8,740 in 2022. The median income has fluctuated, rising from $46,998 in 2013 to $49,778 in 2022, with variations in between. The racial composition of the neighborhood has undergone notable changes during this period. The White population has remained relatively stable, increasing slightly from 57% in 2013 to 59% in 2022. However, the Black population has decreased from 34% to 23% during the same timeframe. Conversely, the Hispanic population has grown from 2% to 7%, and the percentage of residents identifying as two or more races has increased from 1% to 9%.
These demographic shifts, particularly the decrease in the Black population and increase in Hispanic and multiracial residents, may indicate changing housing needs and preferences in the neighborhood. The completion of the LIHTC project in 2013 coincides with the beginning of these demographic changes, potentially reflecting an effort to address evolving housing requirements in the area.
Millersville's LIHTC-funded affordable housing inventory, while modest in size, contributes to addressing the neighborhood's housing needs. The single project, completed in 2013, provides 59 affordable units, focusing on one and two-bedroom apartments. The neighborhood has experienced population growth and demographic shifts over the past decade, with increases in Hispanic and multiracial populations and a decrease in the Black population. These changes may influence future affordable housing needs in the area. The current LIHTC inventory covers a small percentage of the estimated housing units, representing an initial step towards providing affordable options in a changing neighborhood landscape.
