Loading Content...
Affordable Housing in Westlake, Louisiana: A Decade of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westlake, Louisiana, a city with a population of 7,292 as of 2022, has implemented the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing. The city's LIHTC-funded affordable housing inventory comprises 15 units across approximately 4 projects. This represents about 0.54% of the city's estimated housing stock of 2,794 units.
Westlake has received $37,344 in project tax credits from the LIHTC program. This funding translates to an average of $9,336 per project and $2,489 per unit. The city's allocation represents 0.03% of Louisiana's total LIHTC funding.
The implementation of LIHTC projects in Westlake spans from 1989 to 2002. The inaugural project, Westlake Manor Apartments, was completed in 1989, while the most recent, Westlake Homes, was finished in 2002. The 1990s saw the highest number of LIHTC project completions, with two projects: Westlake Elderly Apartments in 1997 and Westlake Elderly II Apartments in 1999.
The LIHTC-funded units in Westlake consist of 6 one-bedroom units, 8 two-bedroom units, and 1 three-bedroom unit. This distribution indicates a focus on accommodating smaller households and potentially elderly residents. One project, Westlake Manor Apartments, targeted Acquisition/Rehabilitation, suggesting efforts to improve and maintain existing affordable housing stock.
Demographic trends in Westlake show a population decrease from 8,161 in 2013 to 7,292 in 2022. Despite this decline, the median income has increased from $50,994 in 2013 to $52,814 in 2022, indicating a slight improvement in economic conditions. The racial composition has remained relatively stable, with the white population consistently representing approximately 80-82% of the total, while the Black population has decreased slightly from 14% to 12%.
Westlake's LIHTC-funded affordable housing inventory, while modest in size, has been established over a significant period. The focus on smaller units and elderly-specific projects suggests an effort to address the needs of specific demographic groups. The city has maintained a stable racial composition and experienced a slight increase in median income over the past decade, despite a declining population. These factors may influence the current and future needs for affordable housing in Westlake.
