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Rochester's Affordable Housing Landscape: LIHTC's Impact on Urban Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rochester, New York, possesses a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city has 7,100 total units in LIHTC-funded projects, with 6,472 designated as low-income units. This inventory comprises approximately 8.85% of the city's estimated 80,201 housing units. While this percentage falls below the 15-20% target for affordable housing, it represents a significant contribution to Rochester's affordable housing landscape.
Rochester has received $38,085,833 in project tax credits through the LIHTC program. With approximately 101 projects, this equates to an average of $376,987 in federal funding per project. The average federal funding per unit is about $5,364. Rochester accounts for 1.81% of the total state funding for LIHTC projects, indicating its role in New York's affordable housing efforts.
The city's involvement with LIHTC-funded affordable housing began in 1987 with the Bernard Street Apartments and continues to the present. Recent projects completed in 2020 include Eastman Reserve, Lofts at Sibley Square, Thurston and Chili Avenue, and VOC Liberty Landing. This span of over three decades demonstrates Rochester's sustained commitment to affordable housing.
The 2010s witnessed the most affordable housing activity, with notable projects such as El Camino Estates, Voters Block Community, and Stadium Estates completed during this period. Rochester's LIHTC-funded housing stock is diverse, comprising 1,060 efficiencies, 2,909 one-bedroom units, 1,423 two-bedroom units, 627 three-bedroom units, and 219 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Some projects target specific populations. For example, Destiny at WCP serves individuals with mental illness and substance abuse issues, while VOC Liberty Landing focuses on veterans. These specialized projects address the unique needs of vulnerable populations within the affordable housing framework.
Rochester's population has remained relatively stable over the past decade, with a slight decline from 210,595 in 2010 to 209,325 in 2022. The median income has increased from $30,158 in 2013 to $43,631 in 2022. This rise in median income may indicate a growing need for affordable housing options for those who have not benefited from this economic improvement.
Racial demographics have shown minor shifts. The Black population decreased slightly from 38% in 2013 to 35% in 2022, while the Hispanic population increased from 18% to 21% during the same period. The White population remained stable at around 35-38%. These demographic changes may influence the demand for affordable housing in different neighborhoods.
Rochester's LIHTC-funded affordable housing inventory represents a significant effort to address the city's housing needs. It covers nearly 9% of the estimated housing stock. The city has consistently developed affordable housing projects over three decades, with the most activity occurring in the 2010s. The diverse unit types and specialized projects for specific populations demonstrate a nuanced approach to affordable housing. While the percentage of affordable housing falls short of ideal targets, Rochester's continued investment in LIHTC projects, coupled with its changing demographics and increasing median income, suggests an ongoing need for affordable housing solutions in the city.
