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Affordable Housing in Stamford's South End: LIHTC Investments 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
The South End neighborhood of Stamford, Connecticut, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 47 units, all designated as low-income. This represents approximately 1.42% of the neighborhood's estimated housing stock, based on the 2022 population of 8,633 and an estimated 3,308 housing units.
The LIHTC program has invested $1,005,631 in tax credits for affordable housing projects in the South End neighborhood. This translates to an average federal funding of about $21,396 per unit. The first LIHTC project, "50-60 East Clay Street," was completed in 1988, while the most recent project, "Liberty Commons," was finished in 2015.
The 2010s saw significant development in LIHTC funded housing with the completion of Liberty Commons in 2015. This project added 33 units to the neighborhood's affordable housing inventory, including 15 two-bedroom and 18 three-bedroom units. Liberty Commons is notable for targeting supportive housing, addressing the needs of individuals who require additional services along with affordable housing.
Over the past decade, the South End neighborhood has experienced significant demographic changes. The population has grown from 4,497 in 2013 to 8,633 in 2022, nearly doubling in size. This rapid growth may indicate an increasing need for affordable housing options.
Median income in the neighborhood has fluctuated, increasing from $46,104 in 2013 to $85,036 in 2022. Despite this overall increase, the completion of Liberty Commons in 2015 suggests a recognized need for affordable housing during this period of economic growth.
The neighborhood has become more racially diverse over the past decade. The Hispanic population decreased from 66% in 2013 to 34% in 2022, while the White population increased from 19% to 39% during the same period. The Black population has remained relatively stable, ranging between 13-20% over the decade. This shifting demographic landscape may influence future affordable housing needs and planning.
The South End neighborhood of Stamford has a modest LIHTC funded affordable housing inventory, covering about 1.42% of its estimated housing stock. LIHTC investments span nearly three decades, with the most significant addition in 2015 through the Liberty Commons project. This development increased the affordable housing stock and addressed specific needs through supportive housing. The rapid population growth and fluctuating median income over the past decade suggest an evolving demand for affordable housing that may require continued attention and investment in the future.
