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North Biloxi's Affordable Housing: LIHTC Impact on a Growing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Biloxi, a neighborhood in Biloxi, Mississippi, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 251 total units in LIHTC funded projects, with 249 designated as low-income units. Based on the 2022 population of 12,933 and an estimated 4,955 housing units, the LIHTC funded affordable housing comprises approximately 5.1% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $988,774 in tax credits for affordable housing projects in North Biloxi. This equates to an average federal funding of about $3,939 per unit. The neighborhood has maintained a consistent presence of affordable housing since 1997 when the first project, Providence Pointe I, was completed. The most recent project, Bellemont Gardens, was constructed in 2009, indicating over a decade of affordable housing development in the area.
The 2000s saw the most activity in affordable housing development, with two projects completed during this decade: Providence Pointe II in 2001 and Bellemont Gardens in 2009. The housing mix in these LIHTC projects is diverse, featuring 94 two-bedroom units, 88 three-bedroom units, and 16 four-bedroom units, accommodating various family sizes and needs.
Over the past decade, North Biloxi has experienced population growth, increasing from 10,717 in 2013 to 12,933 in 2022. Median income has also risen, from $60,534 in 2013 to $66,492 in 2022, indicating overall economic improvement in the neighborhood.
The racial composition has remained relatively stable, with a slight decrease in the white population from 69% in 2019 to 64% in 2022, and a corresponding increase in the Black population from 12% to 20% during the same period. The Asian and Hispanic populations have remained relatively constant at around 6-8% and 4-5% respectively.
While no new LIHTC projects have been built in the last decade, the demographic data suggests a growing population that might benefit from additional affordable housing options. The rising median income could potentially mask income disparities within the community, maintaining a need for affordable housing.
North Biloxi's LIHTC funded affordable housing inventory, while significant, covers a relatively small portion of the estimated housing stock. The neighborhood has benefited from consistent affordable housing development from 1997 to 2009, with a mix of unit sizes to accommodate different household needs. Despite no new LIHTC projects in the past decade, the area has seen population growth and increasing median income, which may indicate evolving housing needs. The racial composition changes, particularly the increase in the Black population, could also impact future affordable housing requirements. Continued monitoring of demographic trends will be crucial in assessing and addressing the neighborhood's ongoing affordable housing needs.
