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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fort Dodge, Iowa, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 276 total units in LIHTC funded projects, with 239 designated as low-income units. Based on the 2022 population of 26,303 and an estimated 10,078 housing units, LIHTC funded affordable housing comprises approximately 2.74% of the city's estimated housing inventory.
Fort Dodge has received $1,966,720 in project tax credits through the LIHTC program. With approximately 9 projects, this equates to an average of $218,524 in federal funding per project. The average federal funding per unit is $7,126. Fort Dodge holds 0.93% of the total state LIHTC funding, indicating a substantial allocation for a city of its size.
The LIHTC program has been active in Fort Dodge since at least 1988, with the completion of the "704 14Th Ave N" project. The most recent project with a known completion date is "Heartland Senior Housing," finished in 2014. This spans over 26 years of affordable housing development in the city. The 1990s experienced the most activity, with projects such as "Evergreen Estates I" and "Northridge Apts" completed in 1996 and 1997 respectively.
The LIHTC funded projects in Fort Dodge offer a range of unit types. The inventory includes 33 efficiencies, 109 one-bedroom units, 118 two-bedroom units, and 9 three-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially senior citizens.
Over the past decade, Fort Dodge's population has remained relatively stable, with a slight increase from 25,791 in 2019 to 26,303 in 2022. The median income has shown an upward trend, rising from $47,488 in 2019 to $52,250 in 2022. This increase in median income might indicate a growing need for affordable housing options for those who may be left behind by rising costs.
Racial demographics have shown subtle shifts, with the white population decreasing slightly from 84% in 2019 to 82% in 2022. There has been a small increase in the Hispanic population from 6% to 7% and in those identifying as two or more races from 1% to 4% during the same period. These demographic changes could influence future affordable housing needs and planning.
Fort Dodge's LIHTC funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has consistently utilized the LIHTC program over nearly three decades, with a particular focus on smaller units. While the current inventory covers only a fraction of the estimated housing units, it provides crucial support for low-income residents. The recent trends in population stability, rising median income, and subtle shifts in racial demographics may inform future affordable housing strategies in Fort Dodge.