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Affordable Housing in Totowa: A Decade of Demographic Shifts and Static LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Totowa, a neighborhood in Paterson, New Jersey, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area currently contains 15 affordable housing units, all categorized as low-income units. Based on the 2022 population of 22,895 and an estimated 8,772 housing units, LIHTC-funded affordable housing comprises approximately 0.17% of the neighborhood's estimated housing inventory. This percentage indicates that LIHTC-funded projects contribute a minor portion to the overall housing stock in the neighborhood.
The LIHTC program has invested $742,131 in tax credits for affordable housing projects in Totowa. With 15 total units funded, this equates to an average federal funding of approximately $49,475 per unit. The neighborhood has two LIHTC-funded projects, both completed in 2008: "Litc# 06901 - Birch Street Supportive Hsg" and "Birch Street Supportive Housing." This information suggests that affordable housing through the LIHTC program has been present in Totowa for at least 15 years.
The 2000s were the most active period for LIHTC-funded affordable housing development in Totowa, with both projects completed during this decade. Information about the types of units (efficiencies, one-bedroom, etc.) is not available for these projects.
Over the past decade, Totowa has experienced demographic changes. The population has increased from 20,426 in 2013 to 22,895 in 2022, a growth of approximately 12%. During this same period, the median income has risen from $41,708 in 2013 to $53,889 in 2022, representing a 29% increase.
Racial demographics have also changed. The Hispanic population, while remaining the majority, has decreased slightly from 55% in 2013 to 52% in 2022. The Asian population has experienced the most significant increase, growing from 11% to 18% during this period. The Black population has remained relatively stable, changing from 17% to 16%, while the White population has slightly decreased from 13% to 11%.
Despite these demographic shifts, there have been no new LIHTC projects in Totowa since 2008. This could be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or potentially a focus on other affordable housing programs not captured in this data.
Totowa's LIHTC-funded affordable housing inventory, while limited, has been a consistent part of the neighborhood since 2008. The two projects provide 15 low-income units, representing a small fraction of the estimated housing stock. Over the past decade, the neighborhood has experienced population growth, increased median income, and shifts in racial demographics, particularly with growth in the Asian population. Despite these changes, there has been no new LIHTC development in recent years, suggesting that other factors may be influencing affordable housing development in the area.
