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Affordable Housing in Vicksburg: LIHTC's Impact on a Historic Mississippi City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Vicksburg, Mississippi, a city with historical significance from the American Civil War, has a substantial inventory of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city possesses 649 total units in LIHTC-funded projects, with 488 of these designated as low-income units. Based on the estimated housing inventory of 10,496 units, the LIHTC-funded affordable housing comprises approximately 6.2% of the city's housing stock.
Vicksburg has received $2,779,977 in project tax credits for affordable housing through the LIHTC program. With 13 approximate projects, this equates to an average of $213,844 in federal funding per project. The average federal funding per unit is $4,283, considering the total 649 units in LIHTC-funded projects. Vicksburg holds 1.02% of Mississippi's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts. The city's LIHTC-funded housing history spans from 1988 to 2014, demonstrating a long-term commitment to affordable housing development.
The 1980s marked the beginning of LIHTC projects in Vicksburg, with four projects completed between 1988 and 1989, including Mundy & Poplar Apts and Hillside Grove #1 and #2. The 2010s represented another active period, with three projects completed in 2013 and 2014, including Aeolian Senior Apts and Carr Central Apts I and II. The LIHTC-funded housing in Vicksburg offers a range of unit types. Out of the 649 total units, there is 1 efficiency, 128 one-bedroom units, 217 two-bedroom units, 72 three-bedroom units, and 21 four-bedroom units. This distribution accommodates various household sizes and needs within the low-income population.
Over the past decade, Vicksburg has experienced a gradual population decline, from 31,517 in 2017 to 27,394 in 2022. Despite this decrease, the median income has shown a modest increase from $37,383 in 2017 to $40,575 in 2022. The racial composition has remained relatively stable, with the Black population consistently representing about 61% of the total, followed by the White population at around 35%.
The last LIHTC project in Vicksburg was completed in 2014. The subsequent years have seen a declining population and a slight increase in median income, which may partially explain the absence of new LIHTC projects in recent years. However, with the median income still relatively low, there may be ongoing need for affordable housing options.
Vicksburg's LIHTC-funded affordable housing inventory represents a significant portion of the city's housing stock, covering about 6.2% of the estimated total units. The city has received substantial federal funding for these projects, averaging over $200,000 per project. With a diverse range of unit types and sizes, the LIHTC program has contributed to meeting various housing needs in Vicksburg over nearly three decades. While recent years have not seen new LIHTC projects, the city's demographic trends, including a declining population and modest income growth, suggest that affordable housing remains an important consideration for Vicksburg's community planning and development efforts.
