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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Page neighborhood in Minneapolis, Minnesota, contains a modest LIHTC-funded affordable housing inventory. As of 2022, the neighborhood had a population of 1,924 residents. The LIHTC program has funded one project in this area, providing a total of 30 units, with 3 of these designated as low-income units. Based on the estimated 737 housing units in the neighborhood, the LIHTC-funded affordable housing covers approximately 4.07% of the neighborhood's housing inventory.
The LIHTC program has invested $783,444 in tax credits for affordable housing in the Page neighborhood. This translates to an average federal funding of $26,115 per unit when divided by the total 30 units in the LIHTC-funded project.
The sole LIHTC project in this neighborhood is Creekside Commons, completed in 2010. This project marks the beginning of LIHTC-funded affordable housing in the area, providing a mix of unit types to serve diverse household sizes. The breakdown of units includes 4 one-bedroom, 14 two-bedroom, 9 three-bedroom, and 3 four-bedroom units.
Over the past decade, the Page neighborhood has experienced some fluctuations in its population, with a decrease from 2,174 residents in 2014 to 1,924 in 2022. The median income has shown a significant increase, rising from $135,892 in 2014 to $159,823 in 2022. This upward trend in median income might suggest a reduced need for additional affordable housing in recent years.
The racial composition of the neighborhood has remained relatively stable, with a predominant white population consistently around 89-92% throughout the decade. There have been minor fluctuations in other racial groups, but no significant shifts that would indicate a dramatic change in housing needs based on demographic changes.
The Page neighborhood in Minneapolis has a single LIHTC-funded affordable housing project, Creekside Commons, which was completed in 2010. This project provides 30 units, including 3 low-income units, covering about 4.07% of the estimated housing inventory. The LIHTC program has invested significantly in this project, with an average of $26,115 in federal funding per unit. While the population has slightly decreased over the past decade, the median income has shown a substantial increase. The racial composition has remained relatively stable, with a predominantly white population. These demographic trends, particularly the rising median income, may explain the absence of additional LIHTC projects in recent years.