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Batesville's Affordable Housing: LIHTC's Impact on a Growing Indiana City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Batesville, Indiana, a small city with a population of 9,927 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing options. The program has funded 227 units, including 194 low-income units, representing approximately 6% of the city's estimated 3,803 housing units.
Batesville has received $1,914,819 in LIHTC project tax credits, funding approximately 5 projects with an average of $382,964 per project. The average federal funding per unit is $8,435. Batesville accounts for 0.45% of Indiana's total LIHTC funding, indicating a modest contribution to the state's affordable housing efforts.
The city's involvement with LIHTC-funded housing spans from 1988 to 2014, demonstrating a 26-year commitment to affordable housing development. The 2010s saw the most activity, with three projects completed: Lammers Pike LP (2008), Romweber Flats I (2012), and Romweber Flats II (2014).
The LIHTC-funded housing in Batesville offers a range of unit types, including 73 one-bedroom, 112 two-bedroom, and 6 three-bedroom units, accommodating various household sizes.
Demographic analysis reveals modest population growth in Batesville, from 8,964 in 2010 to 9,927 in 2022. The median income increased from $65,174 in 2013 to $69,213 in 2022. This economic growth may partially explain the lack of new LIHTC projects since 2014, as rising incomes could reduce demand for additional affordable housing units.
Racially, Batesville has remained predominantly white, decreasing slightly from 96% in 2013 to 93% in 2022. Hispanic and multiracial populations have each grown to 3% by 2022. This demographic stability may influence the perceived need for additional affordable housing projects.
In conclusion, Batesville's LIHTC-funded affordable housing represents a significant component of the city's housing landscape. The city has maintained a consistent approach to affordable housing development over nearly three decades, with a focus in the 2010s. The existing LIHTC projects provide a foundation for affordable housing, but the city's growing population and rising median income suggest an evolving landscape for housing needs. The demographic stability and economic growth may be factors influencing the recent pause in LIHTC project development since 2014.
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