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Affordable Housing in Mio: A Three-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
Mio, Michigan, maintains a small LIHTC-funded affordable housing inventory. The city has 46 affordable housing units, including 28 low-income units. These units represent approximately 2.8% of the city's estimated 1,636 housing units.
Mio has three LIHTC-funded projects: Maple Wood Manor, Stone Manor, and Horizon Apts. The earliest project, Maple Wood Manor, was completed in 1988, while the most recent, Horizon Apts, was finished in 2002. This indicates a 34-year presence of affordable housing in the city.
The 1990s saw the most affordable housing development activity, with Stone Manor's completion. Horizon Apts, completed in 2002, is the largest project with 24 low-income units. Stone Manor offers 20 units, including 2 low-income units, while Maple Wood Manor contributes 2 low-income units. The LIHTC-funded projects primarily consist of one-bedroom units (41), with a small number of two-bedroom units (3).
Mio's population decreased from 4,746 in 2013 to 4,271 in 2022. Despite this decline, the median income increased from $31,971 in 2013 to $45,327 in 2022. This rise in median income may partially explain the absence of new LIHTC projects in recent years, as residents' overall economic situation may have improved.
The racial composition of Mio has remained relatively stable. The white population decreased slightly from 97% in 2013 to 93% in 2022. There has been a minor increase in diversity, with slight growth in Hispanic and multi-racial populations.
Mio's LIHTC-funded affordable housing inventory, while modest, addresses some housing needs of low-income residents. The three projects, developed between 1988 and 2002, provide 46 units, primarily one-bedroom apartments. The percentage of affordable housing is below typical target levels for a well-balanced city. The city's declining population and increasing median income over the past decade may have influenced the lack of recent LIHTC development activity.
