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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ocean Springs, Mississippi's zip code 39564 contains a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This coastal area has 187 total affordable housing units, with 186 of these specifically designated as low-income units. Based on the estimated 16,145 housing units in the zip code, LIHTC-funded affordable housing represents approximately 1.16% of the total housing inventory.
The LIHTC program has invested $3,605,735 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of about $19,282 per unit. Zip code 39564 holds 1.33% of Mississippi's total LIHTC funding, indicating a substantial investment in affordable housing for the area.
All three LIHTC projects in the zip code were completed in 2009, marking a significant year for affordable housing development in Ocean Springs. These projects - Lexington Park Apartments, Ocean Estates II, and Colonnades - collectively contribute to the area's affordable housing stock.
The inventory includes a diverse mix of unit types, with 12 one-bedroom units, 104 two-bedroom units, and 18 three-bedroom units. This distribution suggests a focus on accommodating various family sizes and living arrangements.
Over the past decade, zip code 39564 has experienced population growth, increasing from 37,115 in 2010 to 42,138 in 2022. Despite this growth, no new LIHTC projects have been developed since 2009. The median income has fluctuated, peaking at $70,850 in 2016 and dropping to $64,098 in 2022, which might indicate a potential need for more affordable housing options.
Racial demographics have remained relatively stable, with a slight increase in diversity. The white population decreased from 80% in 2013 to 75% in 2022, while Asian, Hispanic, and multi-racial populations saw small increases. This gradual diversification could influence future affordable housing needs.
The 39564 zip code in Ocean Springs, Mississippi, has a notable LIHTC-funded affordable housing presence, with 187 units representing about 1.16% of the estimated housing inventory. All current LIHTC projects were completed in 2009, suggesting a period of significant affordable housing development. While the area has seen population growth and some income fluctuations over the past decade, no new LIHTC projects have been added. The existing affordable housing stock offers a range of unit sizes, potentially serving diverse household needs. As the area continues to grow and diversify, ongoing assessment of affordable housing needs may be necessary to ensure adequate support for the community.