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Affordable Housing in Warsaw, NY: A Case Study of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Warsaw, located in New York state, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 48 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,026 units, the LIHTC funded affordable housing covers approximately 2.37% of the village's housing stock. This percentage suggests that while LIHTC projects contribute to the affordable housing needs of Warsaw, there may be additional programs or initiatives supporting affordable housing in the area.
Warsaw has received $171,517 in project tax credits from the LIHTC program. With approximately 2 projects, this translates to an average federal funding of $85,758.50 per project. When divided by the total 48 units in LIHTC funded projects, it amounts to an average federal funding of $3,573.27 per unit. The village holds 0.01% of the total state LIHTC funding, indicating a relatively small share of New York's overall affordable housing investment through this program.
The earliest known LIHTC project in Warsaw is Pine Wood Apts, completed in 2005. This project marks the beginning of LIHTC-funded affordable housing in the village, spanning over a decade of affordable housing presence. The affordable housing inventory in Warsaw consists of 26 one-bedroom units and 4 two-bedroom units, catering to various household sizes and needs.
Over the past decade, Warsaw's population has shown some fluctuation, with a slight increase from 4,863 in 2019 to 5,288 in 2022. The median income has also seen an upward trend, rising from $57,787 in 2019 to $59,721 in 2022. This increase in income might suggest a growing need for affordable housing options to maintain economic diversity in the village.
The racial composition of Warsaw has remained relatively stable, with a predominantly white population (97% in 2022). The slight increase in racial diversity, albeit small, could indicate a need for inclusive housing policies to support a potentially growing diverse community.
Warsaw's LIHTC funded affordable housing plays a modest but significant role in addressing the community's housing needs. With 48 low-income units spread across approximately two projects, the program contributes to about 2.37% of the estimated housing stock. The village's share of 0.01% of state LIHTC funding reflects its small-scale approach to affordable housing. The demographic trends show a slight population increase and rising median income, while the racial composition remains stable. These factors, combined with the longstanding presence of LIHTC projects since 2005, indicate an ongoing commitment to maintaining affordable housing options in this small New York village.
