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Affordable Housing in Presidential Hills: LIHTC Inventory 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
Presidential Hills, a neighborhood in Jackson, Mississippi, possesses a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 9 affordable units, all designated as low-income. Based on the 2022 population of 3,316 and the national average household size of 2.61, the estimated housing units in the neighborhood total approximately 1,270. LIHTC funded affordable housing comprises about 0.71% of the estimated housing inventory in Presidential Hills.
The LIHTC funded affordable housing projects in Presidential Hills date back to the late 1980s. The initial projects, Washington House and 316 Grover Cleveland, were completed in 1988, while the most recent project, Garfield Washington House, was finished in 1989. This indicates that affordable housing has been a part of the neighborhood for over three decades.
The 1980s witnessed the most LIHTC funded affordable housing activity in Presidential Hills, with all three projects completed during this period. The neighborhood's LIHTC inventory primarily consists of three-bedroom units (8 in total), with one four-bedroom unit. This distribution suggests an emphasis on accommodating families in the affordable housing stock.
Over the past decade, Presidential Hills has experienced population fluctuations with a general upward trend. The population increased from 2,501 in 2013 to 3,316 in 2022, representing a growth of approximately 32.6%. During this period, the median income has also shown variability, rising from $59,332 in 2013 to $69,785 in 2022, an increase of about 17.6%.
The racial composition of Presidential Hills has remained relatively stable over the past decade, with the Black population consistently representing the majority. However, there has been a slight decrease in the Black population percentage from 73% in 2013 to 63% in 2022, while the White population has increased from 26% to 33% during the same period.
No new LIHTC projects have been constructed in Presidential Hills since 1989. The demographic data indicates a growing population and increasing median income, which may suggest changing housing needs in the neighborhood. However, it is important to consider that other affordable housing programs may be addressing these needs outside of the LIHTC program.
Presidential Hills has a small LIHTC funded affordable housing inventory, established in the late 1980s, which covers less than 1% of the estimated housing units in the neighborhood. The existing LIHTC projects primarily offer three-bedroom units, indicating a focus on family housing. Over the past decade, the neighborhood has experienced population growth and an increase in median income, along with slight shifts in racial composition. While no new LIHTC projects have been developed recently, the changing demographics may influence future affordable housing needs in the area.
