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Boise City's Affordable Housing: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Boise City, Idaho's capital, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 1,877 total units, with 1,343 designated as low-income units. This represents approximately 2.1% of the city's estimated 90,664 housing units. Boise City has received $10,015,085 in project tax credits for affordable housing through the LIHTC program, distributed across approximately 30 projects. This equates to an average of $333,836 in federal funding per project and $5,336 per unit. Boise City accounts for 12.4% of Idaho's total LIHTC funding, indicating its significant role in the state's affordable housing initiatives.
The city's LIHTC funded affordable housing development spans three decades, starting with Park River Apartments and Towne Square Village Apartments I in 1990, and most recently including Valor Pointe in 2020. The 1990s saw the highest number of affordable housing projects completed, with 15 projects during this period. The LIHTC funded housing inventory in Boise City offers a range of unit types, including 68 efficiencies, 671 one-bedroom units, 622 two-bedroom units, 236 three-bedroom units, and 11 four-bedroom units. This distribution addresses various household sizes and needs within the low-income population.
Some projects target specific populations, such as Franklin Grove for Housing Choice (HC) recipients and 12Th And River Street Housing for seniors. These specialized projects address the unique needs of vulnerable populations within the affordable housing framework. Over the past decade, Boise City has experienced steady population growth, increasing from 206,286 in 2010 to 236,632 in 2022, a 14.7% increase. This population growth has been accompanied by a significant rise in median income, from $47,847 in 2013 to $81,425 in 2022. Despite this economic growth, the need for affordable housing persists.
The racial composition of Boise City has remained relatively stable, with a slight decrease in the white population from 83% in 2013 to 80% in 2022. The Hispanic population has seen a small increase from 8% to 9% during this period. The city's growing diversity may influence future affordable housing needs and considerations.
Boise City's LIHTC funded affordable housing inventory represents a small but significant portion of its housing stock. The city has consistently developed affordable housing projects over the past three decades, with a concentration of development in the 1990s. The diverse range of unit types and targeted projects demonstrates efforts to address various housing needs within the low-income population. While the city has experienced economic growth and demographic shifts, the continued development of LIHTC projects indicates an ongoing commitment to providing affordable housing options for its residents.
