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Affordable Housing in Norwich, NY: LIHTC Program Impact on Small City Demographics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Norwich, a city in New York state, has a population of 6,950 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 164 total units, with 153 designated as low-income units. Based on the estimated housing inventory of 2,663 units, the LIHTC funded affordable housing covers approximately 6.2% of the city's housing stock.
Norwich has received $731,748 in project tax credits through the LIHTC program. With approximately 4 projects, this translates to an average federal funding of $182,937 per project and $4,462 per unit. The city holds 0.03% of the total state LIHTC funding.
The LIHTC program has supported affordable housing in Norwich since at least 2007, with the completion of the Golden Age project. The most recent known project completion was Cobblers Square in 2014. This indicates at least seven years of LIHTC-supported affordable housing presence in the city.
The affordable housing inventory in Norwich includes a mix of unit types, with 1 efficiency unit, 119 one-bedroom units, and 26 two-bedroom units. This distribution suggests a focus on housing for individuals and small families.
Over the past decade, Norwich has experienced a slight population decline, from 7,135 in 2013 to 6,950 in 2022. The median income has fluctuated, reaching $52,961 in 2021 before decreasing to $48,932 in 2022. The racial composition of the city has remained predominantly white, although there has been a small increase in diversity, with the Hispanic population growing from 2% in 2013 to 7% in 2022.
Norwich's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's estimated housing stock. The program has provided consistent support for affordable housing over at least seven years, with a focus on one-bedroom units. The population has slightly decreased, there have been fluctuations in median income, and a gradual increase in racial diversity has occurred. These demographic changes may influence future affordable housing needs in the city.
