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Affordable Housing in Torringford: LIHTC Impact 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
Torringford, a neighborhood in Torrington, Connecticut, has a population of 11,350 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 78 low-income units. This LIHTC-funded housing represents approximately 1.8% of the neighborhood's estimated 4,349 housing units.
The LIHTC program has allocated $230,145 in tax credits for affordable housing in Torringford. This equates to an average federal funding of $2,950 per unit. The single LIHTC project in the neighborhood, Torringford West Apartments, was completed in 2013. The development consists entirely of 78 one-bedroom units, indicating it may primarily serve single individuals or small families.
Since the completion of Torringford West Apartments in 2013, the neighborhood has undergone demographic changes. The population has decreased from 13,014 in 2013 to 11,350 in 2022, a reduction of about 12.8%. Despite this population decline, the median income has increased significantly from $71,465 in 2013 to $83,321 in 2022, a rise of approximately 16.6%.
The racial composition of Torringford has remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 82% in 2022. There has been a modest increase in diversity, particularly in the Hispanic population, which grew from 4% in 2013 to 10% in 2022.
The absence of additional LIHTC projects in the past decade may be attributed to the rising median income and relatively stable population, which could have reduced the perceived need for more affordable housing units.
Torringford's LIHTC-funded affordable housing inventory consists of a single project completed in 2013, providing 78 one-bedroom units. This project covers a small portion of the neighborhood's estimated housing stock. The area has experienced a decrease in population but an increase in median income over the past decade, along with a slight increase in racial diversity. These demographic shifts may have influenced the lack of additional LIHTC developments since 2013.
