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Affordable Housing in S. Marketview Heights: LIHTC Development 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
S. Marketview Heights, a neighborhood in Rochester, New York, contains a substantial proportion of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 114 total units, with 94 designated as low-income units. This affordable housing represents approximately 12.5% of the neighborhood's estimated 913 housing units.
The LIHTC projects in S. Marketview Heights have received $1,458,272 in project tax credits, averaging $12,792 per unit. This investment demonstrates a commitment to providing affordable housing options in the area. The neighborhood has experienced LIHTC project development over several decades, with the earliest recorded projects completed in 1991 and the most recent in 2016, spanning a 25-year period of affordable housing development.
The 1990s witnessed the highest number of LIHTC project completions, with three projects finished during that decade. The LIHTC-funded housing in S. Marketview Heights offers a range of unit types, including efficiencies, one-bedroom, two-bedroom, three-bedroom, and four-bedroom units, catering to diverse household sizes and needs within the low-income population.
S. Marketview Heights has experienced demographic changes over the past decade. The population decreased from 3,425 in 2014 to 2,383 in 2022, a decline of approximately 30%. Despite this population decrease, the median income increased modestly from $18,992 in 2014 to $22,831 in 2022.
The racial composition of the neighborhood has also shifted. The Black population remains the largest demographic group, increasing from 48% in 2014 to 51% in 2022. The Hispanic population decreased from 40% to 28% during the same period, while the White population increased from 8% to 18%.
These demographic changes, particularly the population decrease and slight income increase, may have influenced the absence of new LIHTC projects in the neighborhood since 2016. The existing affordable housing stock may be sufficient to meet current needs given these trends.
S. Marketview Heights maintains a significant LIHTC-funded affordable housing presence, covering about 12.5% of the estimated housing stock. The neighborhood has experienced LIHTC development over a 25-year period, offering a diverse range of unit types. While demographic shifts have occurred, including population decrease and slight income increase, the existing affordable housing stock continues to play a crucial role in meeting the community's needs. The lack of recent LIHTC projects may reflect changing neighborhood dynamics and potentially adequate current affordable housing supply.
