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Affordable Housing in Syracuse, Nebraska: LIHTC's Impact on a Small 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
Syracuse, Nebraska, a small city with a population of 2,595 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to fund affordable housing. The program has resulted in 36 affordable housing units, all of which are designated as low-income. These units represent approximately 3.6% of the city's estimated housing inventory of 994 units.
Syracuse has received $297,785 in project tax credits through the LIHTC program. This funding has been distributed across approximately three projects, averaging $99,262 in federal funding per project. The average federal funding per unit is $8,272. Syracuse's LIHTC funding accounts for 0.25% of Nebraska's total state allocation for affordable housing.
The city's involvement with LIHTC-funded affordable housing began in 2000 with the completion of Prairie Hill Senior Townhomes. The most recent project, Hillside Crown, was completed in 2005, indicating that LIHTC-funded affordable housing has been present in Syracuse for at least five years.
The 2000s were the most active period for affordable housing development in Syracuse, with all three LIHTC projects completed during this decade. The housing mix includes 24 two-bedroom units and 12 three-bedroom units, providing options for various household sizes.
Syracuse's population has remained relatively stable over the past decade, fluctuating between 2,500 and 2,700 residents. The median income has shown a general upward trend, increasing from $52,433 in 2013 to $66,984 in 2022. This rise in median income may partially explain the absence of new LIHTC projects in recent years.
The racial composition of Syracuse has remained predominantly white, consistently accounting for 96-98% of the population throughout the 2010s and early 2020s. The Hispanic population and those identifying as two or more races have shown slight variations but remain a small percentage of the overall population.
Syracuse's LIHTC-funded affordable housing inventory, while modest, provides 36 low-income units to the community. The program has contributed significantly to the city's affordable housing stock, with projects completed in the early 2000s. The stable population and increasing median income in recent years may have influenced the lack of new LIHTC developments. Ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents as Syracuse continues to evolve.
