Loading Content...
Affordable Housing in Sand Lake, Michigan: A Long-Term Presence with Limited Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sand Lake, located in Michigan, has a modest LIHTC-funded affordable housing inventory. The city has a total of 48 affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 859 units, the LIHTC-funded affordable housing covers approximately 5.6% of the city's housing stock.
Sand Lake has received $96,972 in project tax credits through the LIHTC program. With two approximate projects, this averages to $48,486 per project. The average federal funding per unit is $2,020. The city holds 0.03% of the total state LIHTC funding.
The first LIHTC project in Sand Lake, Old Mill Of Sand Lake Apts, was completed in 1987, while the most recent project, Mildred Houting, was finished in 2006. This indicates that affordable housing has been present in the city for at least 19 years. The 1980s saw the first LIHTC project in the city, followed by another in the 2000s.
The affordable housing inventory in Sand Lake consists of 11 one-bedroom units and 10 two-bedroom units. There is no data available for efficiencies, three-bedroom, or four-bedroom units.
Over the past decade, Sand Lake has experienced some fluctuations in its population. The population increased from 1,979 in 2015 to 2,241 in 2022. The median income has shown significant growth, rising from $52,499 in 2015 to $68,570 in 2022. This increase in median income might suggest a reduced need for additional affordable housing in recent years.
Regarding racial distribution, Sand Lake has remained predominantly white, with the white population consistently comprising over 97% of the total population from 2015 to 2022. The Hispanic population has remained relatively stable at around 1-2% during this period.
Sand Lake's LIHTC-funded affordable housing inventory consists of 48 units, covering approximately 5.6% of the estimated housing stock. The city has received $96,972 in project tax credits, representing 0.03% of Michigan's total LIHTC funding. Affordable housing projects have been present in the city since 1987, with the most recent project completed in 2006. The available units are primarily one and two-bedroom apartments. Over the past decade, the city has experienced population growth and a significant increase in median income, which may have influenced the lack of new LIHTC projects in recent years. The racial composition of Sand Lake has remained relatively stable, with a predominantly white population.
