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Affordable Housing in Shelley, Idaho: LIHTC Impact on a Growing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Shelley, a city in Idaho, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 86 total units, with 83 designated as low-income units. Based on the estimated housing inventory of 2,713 units, LIHTC funded affordable housing represents approximately 3.2% of the city's housing stock.
Shelley has received $437,314 in project tax credits through the LIHTC program. With three approximate projects, this averages $145,771 per project. Considering the total units, the average federal funding amounts to $5,085 per unit. Shelley holds 0.54% of Idaho's total LIHTC funding allocation.
The city's affordable housing development spans over a decade, with the first LIHTC project, West Pine, completed in 1994, and the most recent, Carnoustie II, in 2005. The 1990s saw the most activity in affordable housing development in Shelley. The housing inventory includes 18 one-bedroom, 44 two-bedroom, and 24 three-bedroom units, catering to diverse household sizes.
Over the past decade, Shelley's population has grown steadily, increasing from 6,096 in 2018 to 7,081 in 2022. The median income has fluctuated, rising from $58,394 in 2018 to a peak of $84,803 in 2021, before settling at $68,271 in 2022. This income trend suggests a potential need for affordable housing options to support lower-income residents.
The racial composition of Shelley has remained relatively stable, with a predominant white population (83% in 2022) and a Hispanic population of around 12-14% in recent years. The city has also seen a slight increase in residents identifying as two or more races, rising from 3% in 2019 to 5% in 2022.
Shelley's LIHTC funded affordable housing inventory provides essential low-income units to the community. The city's demographic trends, including population growth and income fluctuations, underscore the ongoing importance of affordable housing options. The mix of unit types in LIHTC projects reflects an effort to accommodate various household sizes within the affordable housing sector. As Shelley continues to evolve, monitoring these trends will be crucial for assessing future affordable housing needs.
