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Lincoln Neighborhood's Long-term Commitment to Affordable Housing: LIHTC Program Impact in Lafayette, Indiana
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Lincoln neighborhood in Lafayette, Indiana, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 18 total units, with 11 designated as low-income units. Based on the 2022 population of 1,925 and using the national average household size, there are approximately 738 housing units in the neighborhood. The LIHTC funded affordable housing comprises about 2.4% of the estimated housing inventory in Lincoln.
The LIHTC program has invested significantly in Lincoln, with project tax credits totaling $828,148. This translates to an average federal funding of $46,008 per unit in LIHTC funded projects. The neighborhood has demonstrated a long-term commitment to affordable housing, with LIHTC projects dating from 1988 to 2019. This 31-year span indicates a sustained effort to provide affordable housing options in Lincoln.
The 1980s saw the most affordable housing activity, with multiple projects completed in 1988, including Lafayette Neighborhood Housing, 1321 Morton St, and Martin House Manor. The 1990s and 2010s also saw activity, with Carney Gibson Properties completed in 1990 and Union Place Apartments in 2019. The LIHTC funded housing stock in Lincoln is diverse, featuring 5 one-bedroom units, 4 two-bedroom units, and 9 three-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, Lincoln has experienced fluctuations in its population, with a peak of 2,670 residents in 2017 and a decline to 1,925 in 2022. Despite these changes, the median income has shown an overall upward trend, increasing from $20,486 in 2013 to $32,433 in 2022. This income growth may indicate changing economic conditions in the neighborhood.
The racial composition of Lincoln has shifted. The white population has increased from 72% in 2013 to 85% in 2022, while the Black population decreased from 9% to 6% over the same period. The Hispanic population has fluctuated, peaking at 14% in 2019 before decreasing to 1% in 2022. These demographic shifts may influence the ongoing need for affordable housing in the neighborhood.
The Lincoln neighborhood in Lafayette, Indiana, has an established foundation of LIHTC funded affordable housing, with projects spanning over three decades. While the LIHTC units represent a small percentage of the estimated housing inventory, they provide crucial affordable options for low-income residents. The neighborhood has experienced demographic changes, including population fluctuations, income growth, and shifts in racial composition, which may impact future affordable housing needs. The diverse unit types in LIHTC projects demonstrate an effort to accommodate various household sizes within the low-income population.
