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Lumberton's LIHTC-Funded Affordable Housing: A Two-Decade Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
United States Census Bureau: American Community Survey Data (ACS)
US Department of Housing and Urban Development (HUD): Low-Income Housing Tax Credit Properties (LIHTC)
Lumberton, Mississippi, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 104 total units, with 103 designated as low-income units. This represents approximately 5.9% of the city's estimated housing stock of 1,751 units.
Lumberton has received $383,163 in project tax credits for affordable housing through the LIHTC program. With approximately 3 projects, this averages to about $127,721 per project. The funding equates to roughly $3,684 per unit when considering the total 104 units in LIHTC-funded projects. Lumberton holds 0.14% of Mississippi's total LIHTC funding.
The city's affordable housing development spans over two decades. The first LIHTC project, Greentree Apts, was completed in 1991, and the most recent, Azalea Gardens, in 2013. The 1990s saw the most activity in affordable housing development, with two projects completed during this decade.
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The LIHTC-funded units in Lumberton are diverse, comprising 32 one-bedroom, 68 two-bedroom, and 4 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on small families or couples. One notable project, Greentree Apts, specifically targets single-parent families, addressing a crucial demographic in need of affordable housing support.
Over the past decade, Lumberton's population has shown a general decline, decreasing from 5,306 in 2014 to 4,570 in 2022. Despite this population decrease, the median income has risen significantly, from $27,655 in 2014 to $38,943 in 2022, indicating an improving economic situation for some residents. The racial composition of Lumberton has remained relatively stable, with the white population constituting about 70% and the black population around 25-27% in recent years. This stability in racial demographics suggests that the LIHTC projects have been serving a consistent community profile.
Lumberton's LIHTC-funded affordable housing represents a small but significant portion of its housing stock. The city has maintained a steady commitment to affordable housing over the years, with projects tailored to meet various needs, including those of single-parent families. While the population has decreased, rising median incomes and stable racial demographics indicate evolving housing needs that the LIHTC program has continued to address. The consistent development of affordable housing projects over the decades demonstrates Lumberton's ongoing effort to provide housing options for its lower-income residents.
