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Chadron, Nebraska: Affordable Housing Through LIHTC in a Declining Population
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Chadron, a city in Nebraska, possesses a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has a total of 71 affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,200 units, the LIHTC funded affordable housing comprises approximately 3.2% of the city's housing stock.
Chadron has received $283,252 in project tax credits from the LIHTC program. With approximately 4 projects, this translates to an average of $70,813 in federal funding per project. When divided by the total number of units, it amounts to about $3,989 per unit in federal funding. Chadron holds 0.24% of Nebraska's total LIHTC funding.
The city's affordable housing development spans from 1995 to 1998. Pine Oak Vista III, completed in 1995, marks the beginning of LIHTC-funded housing in Chadron. The latest projects, Chardron Apts I and Maple Ridge Apts, were both completed in 1998. This indicates that affordable housing has been present in the city for over two decades.
The 1990s saw the most affordable housing activity in Chadron, with all four projects completed during this decade. The housing mix includes 23 one-bedroom units, 9 two-bedroom units, and 12 three-bedroom units, catering to various household sizes.
Over the past decade, Chadron's population has shown a gradual decline, decreasing from 5,997 in 2015 to 5,741 in 2022. The median income has fluctuated, peaking at $57,335 in 2017 before settling at $47,372 in 2022.
Regarding racial distribution, the city has maintained a predominantly white population, consistently around 80-83% over the past decade. There has been a slight increase in diversity, with small but growing percentages of Black, Hispanic, and multiracial residents.
No new LIHTC projects have been built in Chadron since 1998. This could be related to the declining population trend, which might indicate a reduced demand for new affordable housing units.
Chadron's LIHTC-funded affordable housing inventory provides 71 low-income units across four projects. These units, built in the late 1990s, represent about 3.2% of the city's estimated housing stock. Despite no new LIHTC projects in recent years, the existing units continue to serve the community. The city's demographic trends, including a slowly declining population and fluctuating median income, may influence future affordable housing needs and development in Chadron.
