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Affordable Housing in Pueblo, Colorado: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pueblo, Colorado, a city with a history in steel production, has a substantial inventory of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city possesses 1,200 total units in LIHTC-funded projects, with 959 designated as low-income units. This affordable housing comprises approximately 2.81% of Pueblo's estimated housing inventory of 42,701 units.
Pueblo has received $5,880,223 in project tax credits for affordable housing through the LIHTC program. With approximately 31 projects, this equates to an average of $189,685 in federal funding per project, or $4,900 per unit. Pueblo's allocation represents 1.33% of Colorado's total LIHTC funding.
The city's involvement with LIHTC-funded affordable housing began in 1992 with projects such as Briarwood Apts Subdivision and 2005 Carlee Drive. The most recent addition, Casa Del Sol, was completed in 2020, indicating nearly three decades of affordable housing development in Pueblo. The 2000s experienced the most activity, with multiple projects completed, including Baltimore Court, Rood Candy Apts, and Trinity Life Gardens.
Pueblo's LIHTC-funded housing stock offers a range of unit types. The 1,200 total units consist of 110 efficiencies, 348 one-bedroom, 329 two-bedroom, 318 three-bedroom, and 59 four-bedroom units, accommodating various household sizes and needs. Two notable projects, Oakshire Commons and Oakshire Commons II, completed in 2018, are specifically designed for assisted living, addressing the needs of the elderly or those requiring additional support.
Pueblo's population has grown steadily over the past decade, increasing from 106,865 in 2010 to 111,449 in 2022. The median income has risen from $33,784 in 2013 to $51,697 in 2022. This economic improvement may explain the decrease in LIHTC projects in recent years. Racially, Pueblo has maintained a diverse composition, with a consistently large Hispanic population (approximately 50-52% in recent years) and a white population of about 42-45%. The city has also experienced slight increases in its Asian and Black populations.
Pueblo's LIHTC-funded affordable housing inventory represents a long-term commitment to providing low-income housing options. The city's diverse unit types accommodate various household sizes, with recent projects focusing on specialized needs such as assisted living. While economic indicators have improved over the past decade, the consistent racial diversity and steady population growth suggest an ongoing need for affordable housing options in Pueblo.
