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Affordable Housing in Norfolk, Nebraska: Three Decades of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Norfolk, Nebraska has a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 298 total units, with 279 designated as low-income units. This represents approximately 2.79% of the city's estimated housing stock of 10,691 units.
Norfolk has received $1,219,271 in project tax credits for affordable housing through the LIHTC program. With 8 projects, this averages $152,409 per project in federal funding, or $4,091 per unit. Norfolk's share of 1.03% of Nebraska's total LIHTC funding indicates a significant contribution to the state's affordable housing efforts.
The city's involvement with LIHTC-funded affordable housing began in 1989 with the completion of Isabelle Village Apartments. The most recent addition is Madison Villas, completed in 2020. This 31-year span demonstrates a long-term commitment to affordable housing in Norfolk. The 1990s saw the most activity in affordable housing development, with four projects completed during this decade.
The LIHTC-funded housing stock in Norfolk includes various unit types. The inventory comprises 8 one-bedroom units, 12 two-bedroom units, 42 three-bedroom units, and 1 four-bedroom unit. This distribution suggests an emphasis on accommodating families of different sizes within the affordable housing framework.
Norfolk's population has grown modestly from 26,960 in 2010 to 27,903 in 2022. The median income has increased from $50,683 in 2013 to $55,571 in 2022. This economic growth may have influenced the ongoing need for affordable housing development, as evidenced by the completion of Madison Villas in 2020.
Racial demographics in Norfolk have remained relatively stable. The white population decreased slightly from 84% in 2013 to 80% in 2022, while the Hispanic population increased from 11% to 14% during the same period. This gradual diversification may have implications for future affordable housing needs and planning.
Norfolk's LIHTC-funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has maintained a consistent commitment to affordable housing development over three decades. The distribution of unit types indicates an effort to accommodate diverse household sizes. While the LIHTC projects cover only a fraction of the estimated housing needs, they play a crucial role in providing affordable options for low-income residents. The city's demographic trends, including modest population growth and increasing median income, may continue to influence the demand for affordable housing in the future.
