Loading Content...
Affordable Housing in Payette, Idaho: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Payette, Idaho, a city with a population of 9,913 as of 2022, has a significant history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The city's estimated housing inventory comprises approximately 3,798 units. The LIHTC-funded affordable housing in Payette consists of 181 total units, with 176 designated as low-income units, representing about 4.8% of the city's estimated housing stock.
Payette has received $1,166,380 in project tax credits through the LIHTC program. With approximately 6 projects, this translates to an average federal funding of $194,397 per project and $6,444 per unit. The city holds 1.44% of Idaho's total LIHTC funding, a substantial amount for a city of its size. Affordable housing has been part of Payette's landscape for over two decades, with the first LIHTC project, Louise Garden, completed in 1996, and the most recent, Brent Manor, finished in 2019.
The 2010s saw the most activity in LIHTC project completions, with two projects finished during this decade: Payette Townhouses in 2012 and Brent Manor in 2019. Payette's LIHTC-funded units offer a diverse range of housing options, including 64 one-bedroom units, 86 two-bedroom units, and 22 three-bedroom units, catering to various household sizes and needs.
Demographic trends over the past decade show that Payette's population has grown from 8,629 in 2013 to 9,913 in 2022, an increase of about 14.9%. During this period, the median income rose from $39,074 in 2013 to $50,485 in 2022, representing a 29.2% increase. The racial composition has remained relatively stable, with a slight decrease in the white population from 76% in 2013 to 71% in 2022, and a small increase in residents identifying as two or more races from 1% to 6% during the same period.
The completion of Brent Manor in 2019 aligns with the city's population growth and rising median income, suggesting a continued need for affordable housing options as the city expands and evolves.
Payette's LIHTC-funded affordable housing inventory plays a crucial role in addressing the city's housing needs. The consistent development of projects over more than two decades, coupled with the diverse unit types available, demonstrates a sustained effort to provide affordable housing options. As Payette continues to grow and change demographically, the LIHTC program remains an essential tool in ensuring housing accessibility for low-income residents.
