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Rifle's Modest LIHTC Affordable Housing Inventory: A Decade of Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rifle, Colorado, a small urban area with a population of 14,302 as of 2022, maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This inventory comprises 59 total units, with 32 designated as low-income units. The LIHTC funded affordable housing represents approximately 1.08% of the city's estimated 5,480 housing units.
Rifle's LIHTC funded projects consist of two developments: White River Village and Eagle's Nest Apartments. Eagle's Nest Apartments was completed in 2000, while White River Village was constructed in 2005, indicating a two-decade presence of affordable housing in the city. The inventory includes a diverse mix of unit types: 8 one-bedroom units, 34 two-bedroom units, and 17 three-bedroom units, suggesting a focus on accommodating small to medium-sized families.
Over the past decade, Rifle has experienced moderate population growth, increasing from 13,041 in 2013 to 14,302 in 2022. The median income has also seen an overall increase, rising from $66,132 in 2013 to $70,420 in 2022, despite some fluctuations. Notably, the city's racial composition has undergone significant changes, with the Hispanic population growing from 28% in 2013 to 39% in 2022, while the white population decreased from 70% to 57% during the same period.
The demographic shifts in Rifle may indicate a growing need for diverse and culturally sensitive affordable housing options. However, no new LIHTC projects have been completed in the city since 2005. This could suggest that other affordable housing programs or initiatives may be addressing the city's evolving needs, or that there might be opportunities for additional LIHTC developments to meet the changing demographics.
In summary, Rifle's LIHTC funded affordable housing inventory, while modest, has been an integral part of the community for over two decades. The existing projects provide a mix of unit sizes, catering to various household compositions. The city has experienced population growth and significant demographic shifts over the past decade, particularly with an increase in the Hispanic population. These changes may present opportunities for future affordable housing developments to address the evolving needs of the Rifle community.
