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Affordable Housing in Plymouth-Exchange: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Plymouth-Exchange neighborhood in Rochester, New York, contains 90 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise approximately 6.27% of the neighborhood's estimated 1,435 housing units, based on the 2022 population of 3,746. The LIHTC program has invested $802,500 in tax credits for affordable housing projects in Plymouth-Exchange, averaging $8,917 per unit.
Affordable housing development in this neighborhood spans from 1996 to 2006. The initial LIHTC project, Woodward Housing, was completed in 1996, while the most recent project, Plymouth Manor, was finished in 2006. This decade marks the period of LIHTC-funded affordable housing development in the area.
The 2000s witnessed significant affordable housing development, with Plymouth Manor being the largest project, contributing 67 units to the neighborhood's affordable housing inventory. The units vary in size, including 3 efficiencies, 6 one-bedroom units, 8 two-bedroom units, 10 three-bedroom units, and 18 four-bedroom units.
Plymouth-Exchange has experienced demographic changes over the past decade. The population increased slightly from 3,381 in 2019 to 3,746 in 2022. Median income rose significantly from $21,734 in 2019 to $29,664 in 2022, a 36.5% increase.
Racial demographics have shifted. The Black population, while remaining the majority, decreased from 80% in 2019 to 71% in 2022. The Hispanic population increased from 4% to 10%, and the White population rose from 9% to 11%. The proportion of residents identifying as two or more races has remained at 7% since 2020.
These demographic changes, particularly the rising median income, may indicate evolving housing needs in the neighborhood. However, no new LIHTC projects have been developed since 2006, suggesting that other affordable housing programs may be addressing current needs.
Plymouth-Exchange's affordable housing landscape is characterized by 90 LIHTC-funded units, representing about 6.27% of the estimated housing inventory. LIHTC development occurred between 1996 and 2006, with a significant project completed in the 2000s. Recent years have shown an increase in median income and shifts in racial demographics, which may influence future affordable housing needs. While LIHTC development has not occurred recently, the existing units continue to contribute to the neighborhood's housing mix.
