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Affordable Housing in Twin Falls: LIHTC Projects and Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Twin Falls, Idaho, known as the "Gateway to Snake River Canyon," has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 515 total units, with 465 designated as low-income units. This represents approximately 2.2% of the city's estimated 23,146 housing units.
Twin Falls has received $3,793,233 in project tax credits for affordable housing through the LIHTC program. With approximately 10 projects, this translates to an average of $379,323 in federal funding per project. The average federal funding per unit is $7,366. Twin Falls holds 4.7% of the total state LIHTC funding.
The first LIHTC project in Twin Falls, Fawnbrook, was completed in 1993, while the most recent project, Cherrywood, was finished in 2017. This demonstrates a 24-year span of affordable housing development in the city. The 1990s saw the most affordable housing projects completed, with four projects: Fawnbrook, Fawnbrook II, Carriage Lane, and Twin Falls Garden.
The affordable housing inventory in Twin Falls includes a diverse range of unit types. There are 8 efficiencies, 57 one-bedroom units, 186 two-bedroom units, 100 three-bedroom units, and 10 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and needs.
Over the past decade, Twin Falls has experienced steady population growth, increasing from 49,349 in 2010 to 60,411 in 2022. The median income has also risen, from $49,884 in 2013 to $59,204 in 2022. Despite this economic growth, the need for affordable housing persists.
The racial composition of Twin Falls has remained relatively stable, with a slight decrease in the white population from 82% in 2013 to 77% in 2022. The Hispanic population has grown modestly from 13% to 15% during this period. The Asian, Black, and multi-racial populations have also seen small increases, indicating a gradual diversification of the city.
The most recent LIHTC projects, Field Stream (2016) and Cherrywood (2017), coincide with a period of continued population growth and rising median incomes. This suggests that despite overall economic improvements, there remains a demand for affordable housing options in Twin Falls.
Twin Falls' LIHTC-funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has consistently developed affordable housing projects over more than two decades, with a diverse range of unit types to accommodate various household sizes. While the city has experienced population growth and increasing median incomes, the continued development of LIHTC projects indicates an ongoing need for affordable housing options. The gradual diversification of the population may also contribute to the sustained demand for affordable housing in Twin Falls.
