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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stanton, located in Michigan, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that contributes to meeting the housing needs of its low-income residents. The city has a total of 74 affordable units, all of which are designated as low-income units. These units are spread across 3 LIHTC-funded projects.
Based on the 2022 population of 3,053 and using the national average household size, the estimated housing inventory for Stanton is approximately 1,170 units. The 74 LIHTC-funded affordable units represent about 6.3% of this estimated housing stock.
The LIHTC program has been contributing to Stanton's affordable housing needs since 1992, with the most recent project completed in 2004. This indicates over a decade of affordable housing development in the city.
The 2000s saw the most affordable housing development activity, with two projects completed during this decade: Mainville Apts in 2000 and Sunshine Canyon in 2004. The first LIHTC project in the city, Stanton Park Apts, was completed in 1992.
Breaking down the unit types, the LIHTC-funded projects in Stanton include 14 one-bedroom units, 24 two-bedroom units, and 18 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, from individuals to small families.
Analyzing the demographic trends over the past decade, Stanton's population has remained relatively stable, fluctuating between 3,200 and 3,300 residents. The median income has shown a general upward trend, increasing from $34,653 in 2013 to $44,722 in 2022, which might indicate a gradually improving economic situation for residents.
The racial composition of Stanton has remained predominantly white, consistently accounting for over 90% of the population. There has been a slight increase in diversity, with small but growing Hispanic and multiracial populations.
No new LIHTC projects have been recorded in the last decade. This could be due to various factors, including potentially reduced need for additional affordable housing units or shifts in funding priorities.
Stanton's LIHTC-funded affordable housing inventory comprises 74 units across 3 projects, representing about 6.3% of the estimated housing stock. The development of these projects spans from 1992 to 2004, with the most activity occurring in the early 2000s. The unit mix caters to various household sizes, from one-bedroom to three-bedroom apartments. While the city's population has remained stable and median income has increased over the past decade, no new LIHTC projects have been recorded recently. This analysis provides an objective look at how LIHTC-funded housing contributes to Stanton's affordable housing landscape, though it is important to note that other housing programs may also be contributing to meeting the city's affordable housing needs.