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Rochester's LIHTC-Funded Affordable Housing: A Two-Decade Commitment
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 Hampshire, maintains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 277 total affordable units, all designated as low-income units. This inventory represents approximately 2.2% of Rochester's estimated 12,480 housing units, based on the city's 2022 population of 32,573.
Rochester has received $1,967,325 in project tax credits from the LIHTC program. With approximately 8 projects, this equates to an average of $245,916 in federal funding per project, or about $7,102 in federal funding per unit. Rochester holds 3.9% of the total state LIHTC funding, indicating a substantial investment in affordable housing for a city of its size.
The city's engagement with LIHTC-funded affordable housing began in 1996 with the Rochester Transitional Housing project and continued through 2019 with the completion of Apple Ridge Phase I. This 23-year span demonstrates a sustained commitment to affordable housing development in Rochester. The 2000s saw the most activity, with multiple projects completed during this decade, including Cold Spring Manor II (2002), Punch Brook/Brookside Place (2004), and Rochester East (2004).
Rochester's LIHTC-funded housing stock includes a variety of unit types, with 95 one-bedroom units, 119 two-bedroom units, and 18 three-bedroom units. This distribution indicates a focus on accommodating diverse household sizes, from individuals to small families.
Over the past decade, Rochester has experienced steady population growth, increasing from 29,796 in 2013 to 32,573 in 2022, a 9.3% increase. The median income has also risen significantly, from $61,147 in 2013 to $71,434 in 2022, representing a 16.8% increase. Despite this income growth, the continued development of LIHTC projects suggests an ongoing demand for affordable housing options.
Racial demographics in Rochester have remained relatively stable, with a slight decrease in the white population from 94% in 2013 to 92% in 2022. There has been a small increase in diversity, with Asian, Black, and Hispanic populations each growing by about 1-2 percentage points. This gradual diversification may influence future affordable housing needs and planning.
Rochester's LIHTC-funded affordable housing inventory represents a consistent effort to provide housing options for lower-income residents. With 277 units across approximately 8 projects, the city has utilized 3.9% of the state's LIHTC funding. The projects span over two decades, demonstrating a long-term commitment to affordable housing. While the LIHTC-funded units cover a small percentage of the city's estimated housing stock, they play a crucial role in providing affordable options. The city's growing population and rising median income, coupled with a slight increase in diversity, suggest that the need for affordable housing may continue to evolve in the coming years.
