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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pocatello, Idaho, known as the "Gateway to the Northwest," has a LIHTC funded affordable housing inventory of 57 total units, with 42 designated as low-income units as of 2022. This inventory represents approximately 0.25% of the city's estimated 22,844 housing units. The city has received $459,094 in project tax credits through the LIHTC program, distributed across approximately 2 projects. This results in an average of $229,547 in federal funding per project and about $8,054 per unit. Pocatello's share of the total state LIHTC funding is 0.57%.
The city's utilization of the LIHTC program spans from 1994 to 2009, a 15-year period. The first project, Cedar View, was completed in 1994, and the most recent, Whitman Hotel, in 2009. The 2000s saw the most LIHTC activity in Pocatello. The affordable housing inventory includes a diverse mix of unit types: 4 efficiencies, 21 one-bedroom units, 2 two-bedroom units, and 12 three-bedroom units, catering to various household sizes and needs within the low-income population.
Pocatello's population has grown steadily over the past decade, increasing from 56,510 in 2010 to 59,623 in 2022. The median income has also risen from $49,939 in 2013 to $52,924 in 2022, indicating a modest improvement in economic conditions. Racial demographics have remained relatively stable, with a slight decrease in the white population from 87% in 2013 to 82% in 2022, and small increases in Asian, Hispanic, and multi-racial populations.
Despite these demographic changes, no new LIHTC projects have been completed in Pocatello since 2009. This could be attributed to various factors, including changes in funding priorities, local housing market conditions, or the presence of other affordable housing initiatives.
Pocatello's LIHTC funded affordable housing inventory, while modest in size, provides important housing options for low-income residents. The city has utilized the LIHTC program to create a diverse range of unit types, from efficiencies to three-bedroom apartments. While no new LIHTC projects have been completed in recent years, the city has experienced steady population growth and a slight increase in median income. Continued monitoring of demographic trends and housing needs will be crucial for future affordable housing planning in Pocatello.