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Crookston's LIHTC-Funded Affordable Housing: A Three-Decade Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Crookston, a city in Minnesota, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its housing inventory. The city's LIHTC inventory comprises 76 total units, with 47 designated as low-income units. Based on the estimated housing inventory of 3,206 units for the city's 2022 population, LIHTC-funded affordable housing represents approximately 2.4% of Crookston's housing stock.
Crookston has received $667,154 in LIHTC funding for affordable housing projects. With three projects, this averages to about $222,385 per project. When divided by the total number of LIHTC-funded units, it equates to an average of $8,778 per unit in federal funding. Crookston holds 0.23% of Minnesota's total LIHTC funding allocation.
The city's affordable housing development through LIHTC spans from 1993 to 2018. The first project, Greentree Square II, was completed in 1993, while the most recent, Agassiz Townhomes, was finished in 2018. This 25-year span demonstrates a sustained commitment to affordable housing development in Crookston. The 2000s saw the most activity in LIHTC-funded housing with projects like Crookston Th completed during this decade.
The LIHTC-funded housing in Crookston offers a range of unit types. Out of the 76 total units, there is 1 one-bedroom unit, 27 two-bedroom units, and 48 three-bedroom units. This distribution suggests a focus on accommodating families and larger households.
Over the past decade, Crookston's population has shown a decline, from 8,838 in 2015 to 8,367 in 2022. The median income has fluctuated, peaking at $62,839 in 2018 before declining to $51,926 in 2022. The racial composition of the city has remained relatively stable, with a slight increase in diversity. The white population decreased from 83% in 2015 to 81% in 2022, while there were small increases in Asian and Black populations.
The completion of Agassiz Townhomes in 2018 coincides with the peak in median income, suggesting a possible response to changing economic conditions in the city. The subsequent decline in median income might indicate an ongoing need for affordable housing options.
Crookston's LIHTC-funded affordable housing inventory represents a long-term commitment to providing affordable housing options. The city has leveraged federal funding to create a range of units, primarily focusing on larger family-sized accommodations. Despite recent population declines, the fluctuating median income and slight increase in diversity suggest an ongoing need for affordable housing options. The LIHTC program has played a role in addressing this need over the past 25 years, contributing to the city's housing landscape and potentially supporting its changing demographic profile.
