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Affordable Housing in Richland, Mississippi: A Three-Decade Presence
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Richland, Mississippi has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 184 total affordable units, with 183 designated as low-income units. Based on the estimated housing inventory of 3,163 units for the city's 2022 population, LIHTC funded affordable housing represents approximately 5.8% of the city's housing stock.
Richland has two LIHTC funded projects: Richland Apts and Chapelridge Of Richland. Richland Apts was completed in 1994, while Chapelridge Of Richland was finished in 2004. This indicates that affordable housing has been present in the city for at least 28 years. The 1990s and 2000s were the decades with the most affordable housing projects completed in Richland.
The LIHTC funded housing in Richland offers a diverse range of unit types. The inventory includes 16 one-bedroom units, 120 two-bedroom units, and 48 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on two-bedroom units.
Over the past decade, Richland's population has shown a slight decline, from 9,195 in 2015 to 8,256 in 2022. The median income has fluctuated, peaking at $52,013 in 2018 and decreasing to $44,659 in 2022. This recent decline in median income could potentially indicate an increased need for affordable housing options.
Regarding racial demographics, the city has maintained a predominantly white population, consistently above 70% throughout the decade. The Black population has remained relatively stable, ranging from 13% to 18%. There has been a slight increase in the Hispanic population, from 6% in 2015 to 8% in 2019, before declining to 5% in 2022. These demographic shifts, while modest, may influence the demand for affordable housing in the city.
Richland's LIHTC funded affordable housing inventory, while present, covers a relatively small portion of the estimated housing stock. The city has seen two LIHTC projects completed over a decade apart, providing a mix of unit sizes to accommodate different household needs. Recent demographic trends, particularly the decline in median income, suggest that the demand for affordable housing may be increasing. The stability in racial demographics indicates that the city's affordable housing needs may be relatively consistent across different population groups.
