Loading Content...
Affordable Housing in Torrington: LIHTC Impact on a Changing Connecticut City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Torrington, Connecticut, maintains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 378 units in LIHTC-funded projects, with 364 designated as low-income units. Based on the 2022 population of 35,510 and an estimated housing inventory of 13,605 units, LIHTC-funded affordable housing comprises approximately 2.78% of the city's total housing stock.
Torrington has received $230,145 in project tax credits for affordable housing through the LIHTC program. With approximately 6 projects, this equates to an average of $38,358 per project or $609 per unit. The city holds 0.21% of Connecticut's total LIHTC funding, representing a modest share of the state's affordable housing initiatives.
The city's involvement with LIHTC-funded affordable housing spans over two decades, from the first project, "26 & 30 Maud Street," completed in 1988, to the most recent, "Torringford West Apartments," finished in 2013. The 1990s experienced the most activity, with three projects completed during this decade: "Wisell House" (1993), "Northside Terraces" (1996), and "Y House" (2000).
The LIHTC-funded housing in Torrington offers a diverse range of unit types. The inventory includes 42 efficiencies, 114 one-bedroom units, 167 two-bedroom units, and 46 three-bedroom units, accommodating various household sizes and needs.
Over the past decade, Torrington's population has exhibited slight fluctuations, decreasing from 36,048 in 2013 to 34,476 in 2019, before increasing to 35,510 in 2022. The median income increased from $64,474 in 2013 to $67,491 in 2022, indicating a modest economic improvement.
Racial demographics have shifted notably. The white population decreased from 84% in 2013 to 65% in 2022, while the Hispanic population increased from 8% to 18%. The Black population also increased from 1% to 9% during this period. This diversification may indicate changing housing needs in the community.
Torrington's LIHTC-funded affordable housing inventory, while modest in scale, provides essential low-income units to the community. The city's involvement in the program spans over two decades, with projects addressing various housing needs. Recent demographic shifts, including increased racial diversity and fluctuating population, may influence future affordable housing needs in Torrington. The consistent development of LIHTC projects over time reflects an ongoing commitment to affordable housing in the city.
