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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Lynch Street neighborhood in Jackson, Mississippi, contains a significant proportion of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood's LIHTC inventory comprises 30 total units, with 24 designated as low-income units. This affordable housing stock is crucial in addressing the community's housing needs.
Based on the 2022 population of 190 residents and the national average household size of 2.61, the neighborhood is estimated to have approximately 73 housing units. The LIHTC funded affordable housing units represent about 41% of this estimated housing inventory, indicating a substantial proportion of affordable housing in the area.
The LIHTC program has been present in the Lynch Street neighborhood since 1988, with two projects completed that year: Colonial Villiage and Colonial Village. This indicates a long-standing commitment to affordable housing in the area, spanning over three decades.
The inventory includes a mix of unit types, with a predominance of two-bedroom units (29) and one four-bedroom unit. This distribution suggests a focus on accommodating small to medium-sized families in the neighborhood.
Over the past decade, the Lynch Street neighborhood has experienced significant demographic changes. The population has decreased from 354 in 2015 to 190 in 2022, a decline of nearly 46%. Despite this population decrease, the median income has remained relatively stable, fluctuating between approximately $17,000 and $19,000 annually.
The racial composition of the neighborhood has been consistently predominantly Black, with percentages ranging from 98% to 100% throughout the 2013-2022 period. This demographic consistency suggests that the LIHTC projects in the area have been serving a primarily Black community.
The stable median income, despite the population decrease, might indicate that the existing LIHTC projects continue to play a vital role in providing affordable housing options for the remaining residents. The consistent racial composition also suggests that these projects have been important in maintaining housing stability for the Black community in the neighborhood.
The Lynch Street neighborhood in Jackson, Mississippi, has a significant proportion of its housing inventory dedicated to affordable housing through the LIHTC program. The two LIHTC projects, both completed in 1988, have provided a long-term affordable housing solution for the area. Despite a declining population over the past decade, the median income has remained relatively stable, and the racial composition has been consistently predominantly Black. This suggests that the LIHTC funded housing continues to serve an important role in meeting the affordable housing needs of the community, particularly for its Black residents.