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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Middletown, a city in New York, has a population of 31,522 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 810 total units, with 699 of these designated as low-income units. Based on the estimated housing inventory of 12,077 units, the LIHTC funded affordable housing covers approximately 6.7% of the city's housing stock.
Middletown has received $4,500,235 in project tax credits through the LIHTC program. With approximately 11 projects, this translates to an average federal funding of $409,112 per project and $5,556 per unit. The city holds 0.21% of the total state LIHTC funding.
The LIHTC funded affordable housing in Middletown spans from 2005 to 2018, indicating at least 13 years of affordable housing development in the city. The earliest projects completed in 2005 were Middlecrest Crossing Senior Apts I and Tall Oaks. The most recent project, completed in 2018, was Bella Vista II.
The 2000s saw the most affordable housing projects completed, with five projects finished between 2005 and 2008. Notable projects from this period include College Hill Apts and Summitfield Housing.
The LIHTC funded housing inventory in Middletown includes a diverse mix of unit types. Out of the 810 total units, there are 30 efficiencies, 321 one-bedroom units, 212 two-bedroom units, 136 three-bedroom units, and 30 four-bedroom units.
One project, The Mill At Middletown, completed in 2016, specifically targets persons with AIDS/HIV and those dealing with substance abuse. This project likely incorporates specialized services and designs to meet the unique needs of these populations.
Over the past decade, Middletown's population has grown from 29,429 in 2019 to 31,522 in 2022, a 7.1% increase. The median income has also risen, from $61,110 in 2019 to $64,238 in 2022. This growth in population and income may indicate an increased demand for housing, including affordable options.
The racial demographics of Middletown have shifted slightly. The Hispanic population has remained relatively stable at around 39-40% from 2018 to 2022. The Black population has increased from 18% to 22% in the same period, while the White population has decreased from 34% to 31%. These changes in racial composition may influence the need for culturally sensitive affordable housing options.
Middletown's LIHTC funded affordable housing inventory covers 6.7% of the estimated housing stock, providing 810 units with 699 designated as low-income. The city has received over $4.5 million in tax credits, supporting approximately 11 projects over at least 13 years. The housing mix caters to various household sizes, from efficiencies to four-bedroom units. With recent population growth and demographic shifts, the demand for affordable housing may continue to evolve, potentially influencing future LIHTC developments in the city.