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Affordable Housing in Montview: A Three-Decade Presence Amid Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Montview neighborhood in Winston-Salem, North Carolina, has a limited presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 2 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 168 units for the neighborhood, the LIHTC funded affordable housing represents about 1.19% of the neighborhood's housing stock.
The LIHTC program has invested a total of $2,196 in tax credits for affordable housing projects in Montview. This equates to an average federal funding of $1,098 per unit. The neighborhood has one notable LIHTC project, Leo St Apts, which was completed in 1990. This indicates that affordable housing has been present in Montview for over three decades.
The 1990s marked the decade with the most affordable housing development in Montview, with the Leo St Apts project being completed during this period. All of the LIHTC funded units in the neighborhood are two-bedroom units, suggesting a focus on accommodating small families or households.
Over the last decade, Montview's population has fluctuated, with a recent increase to 439 residents in 2022. The median income has shown a general upward trend, rising from $19,867 in 2015 to $25,623 in 2022. This increase in median income may indicate a changing economic landscape in the neighborhood.
Racial demographics in Montview have also shifted notably. The Black population decreased from 56% in 2019 to 39% in 2022, while the White population increased from 23% to 54% during the same period. This significant demographic shift could potentially impact future affordable housing needs and development in the area.
The Montview neighborhood has a small LIHTC funded affordable housing inventory, comprising 1.19% of its estimated housing stock. The single LIHTC project, Leo St Apts, has been providing affordable housing options since 1990. While the neighborhood has experienced demographic changes, including increases in median income and shifts in racial composition, the LIHTC housing stock has remained stable. These trends may influence future affordable housing needs and development strategies in Montview.
