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Affordable Housing in University Hill: 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
University Hill, a neighborhood in Syracuse, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 28 affordable units, all designated as low-income units. Based on the 2022 population of 9,101 and using the national average household size of 2.61, there are approximately 3,487 housing units in the neighborhood. LIHTC funded affordable housing comprises about 0.8% of the estimated housing inventory in University Hill.
The LIHTC program has invested $304,856 in tax credits for affordable housing projects in University Hill. This equates to an average federal funding of approximately $10,888 per unit. The neighborhood's LIHTC funded affordable housing inventory consists of 28 units, including 2 one-bedroom, 5 two-bedroom, 16 three-bedroom, and 5 four-bedroom units. This unit size distribution indicates an effort to accommodate various household compositions within the low-income population.
The Loguen Homes Apartments, completed in 2010, is the only LIHTC project in the neighborhood. This project has provided affordable housing options to the community for over a decade.
University Hill has experienced demographic changes over the past decade. The population increased from 8,469 in 2014 to 9,101 in 2022. Median income rose from $10,258 in 2014 to $12,988 in 2022, suggesting a gradual improvement in economic conditions.
Racial demographics have also changed. The Asian population increased from 13% in 2014 to 20% in 2022, while the Black population decreased slightly from 14% to 12%. The Hispanic population remained relatively stable, fluctuating between 7% and 11% over the decade. The White population decreased modestly from 62% to 59%.
Despite these demographic changes, no new LIHTC projects have been developed in the neighborhood since 2010. This could be due to various factors, including land availability, changes in local housing policies, or shifts in funding priorities.
University Hill's affordable housing landscape is characterized by a single LIHTC project, Loguen Homes Apartments, which has served the community since 2010. The 28 low-income units represent a small fraction of the estimated housing inventory but provide a range of unit sizes to accommodate different household needs. The neighborhood has experienced moderate population growth and income increase over the past decade, along with shifts in racial composition. However, these changes have not resulted in additional LIHTC developments. The analysis highlights the complex relationship between demographic trends and affordable housing provision, emphasizing the need for ongoing assessment of community needs and housing policies.
