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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Platte, Nebraska, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its urban landscape. The city's LIHTC inventory comprises 335 total units, with 245 designated as low-income units. Based on the 2022 population of 24,311 and an estimated 9,315 housing units, LIHTC-funded affordable housing constitutes approximately 3.6% of the city's estimated housing inventory.
North Platte has received $2,672,707 in LIHTC funding for affordable housing projects. With 11 approximate projects, this averages to about $242,973 per project. The average federal funding per unit is approximately $7,978. North Platte holds 2.27% of Nebraska's total LIHTC funding.
The city's LIHTC-funded housing development spans from 1998 to 2017. The initial projects, Taborwood Townhomes and Pacific Place Apartments, were completed in 1998, while the most recent, Parkland Estates II, was finished in 2017. The 2010s experienced the most development activity, with six projects completed during this decade.
The housing mix includes 8 one-bedroom, 44 two-bedroom, 118 three-bedroom, and 9 four-bedroom units. This distribution indicates a focus on accommodating families, with a significant number of larger units. One project, Parkland Estates II (2017), specifically targets individuals with special needs, demonstrating an effort to address diverse housing requirements within the community.
North Platte's population has shown a slight decline over the past decade, decreasing from 25,675 in 2010 to 24,311 in 2022. Despite this, the median income has increased from $54,769 in 2013 to $61,226 in 2022, suggesting overall economic improvement. The racial composition has remained relatively stable, with a slight increase in diversity. The white population decreased from 88% in 2013 to 84% in 2022, while the Hispanic population grew from 6% to 11% during the same period. This demographic shift may indicate a growing need for culturally diverse affordable housing options.
North Platte's LIHTC-funded affordable housing represents a small but significant portion of its housing inventory. The city has consistently developed affordable housing projects over two decades, with a focus on family-sized units. While the population has slightly decreased, rising median incomes and increasing diversity suggest evolving housing needs. The presence of specialized housing for individuals with special needs demonstrates efforts to address diverse community requirements. These LIHTC projects play a crucial role in providing affordable housing options in North Platte, contributing to the city's overall housing landscape.