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Affordable Housing in Sayreville, New Jersey: LIHTC Program Impact 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
Sayreville, located in New Jersey, has a population of 45,136 as of 2022. The city has a total of 90 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 44 of these designated as low-income units. Based on the estimated housing inventory of 17,293 units, the LIHTC-funded affordable housing covers approximately 0.52% of the city's housing stock.
Sayreville has received $2,141,530 in project tax credits through the LIHTC program. With three approximate projects, this averages to about $713,843 per project. The average federal funding per unit is $23,795. Sayreville holds 0.29% of New Jersey's total LIHTC funding allocation.
The city's LIHTC-funded affordable housing projects include "Sayreville Senior Housing," "Sayreville Senior Housing #325," and "The Place At Sayreville." The first two projects were completed in 2012, indicating that affordable housing through LIHTC has been present in the city for at least a decade.
The 2010s saw the most LIHTC project completions in Sayreville, with two projects finished in 2012. This suggests a focused effort to increase affordable housing options during that period.
Over the past decade, Sayreville's population has grown from 43,352 in 2013 to 45,136 in 2022, an increase of about 4.1%. The median income has fluctuated, rising from $89,881 in 2013 to $100,108 in 2021, before decreasing to $89,589 in 2022.
Racial demographics have shifted slightly, with the white population decreasing from 57% in 2013 to 47% in 2022. The Hispanic population has seen the most significant increase, from 12% to 20% during the same period. The Asian population has remained relatively stable, while the Black population has seen a slight increase.
Sayreville's LIHTC-funded affordable housing inventory, while modest in relation to its total housing stock, represents a targeted effort to provide low-income housing options. The city has leveraged federal funding to create 90 units, with nearly half designated as low-income. The concentration of project completions in 2012 suggests a focused period of affordable housing development. As the city's population and demographic makeup continue to evolve, ongoing assessment of affordable housing needs will be crucial to ensure adequate support for low-income residents.
