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Affordable Housing in Somersworth: LIHTC Inventory and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Somersworth, a city in New Hampshire, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 107 units, all designated as low-income. This represents approximately 2.33% of the city's estimated 4,595 housing units based on the 2022 population.
Somersworth has three LIHTC-funded projects. The first, Queensbury Mill, was completed in 1996, and the most recent, Maple Street Somersworth, was finished in 2004. This indicates that affordable housing has been present in the city for at least 26 years. The 1990s saw the most activity in affordable housing development, with two projects completed during this decade.
The distribution of unit types in Somersworth's LIHTC-funded projects is diverse. Out of the 107 total units, 61 are one-bedroom units, 4 are two-bedroom units, 28 are three-bedroom units, and 14 are four-bedroom units. This variety suggests an attempt to accommodate different household sizes and needs within the affordable housing inventory.
Over the past decade, Somersworth's population has shown a gradual increase, growing from 11,767 in 2013 to 11,994 in 2022. The median income has also risen, from $59,081 in 2013 to $69,584 in 2022, indicating an overall improvement in economic conditions.
Racial demographics have remained relatively stable, with the white population consistently representing around 83-84% of the total. There has been a slight increase in diversity, with small growths in Asian and Hispanic populations, and a modest increase in residents identifying as two or more races.
Despite these demographic changes, no new LIHTC projects have been completed in Somersworth since 2004. This could be due to various factors, including potential changes in housing needs, funding availability, or shifts in housing policy priorities.
Somersworth's LIHTC-funded affordable housing inventory provides 107 low-income units across three projects. These units represent about 2.33% of the estimated housing stock. The city saw most of its LIHTC development in the late 1990s and early 2000s, with a mix of unit sizes to accommodate various household needs. While the city has experienced slight population growth and increases in median income over the past decade, there have been no new LIHTC projects during this period. The stable racial demographics and increasing median income may have influenced the perceived need for additional affordable housing development in recent years.
