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Seneca's Affordable Housing: Stagnant LIHTC Development Amid Demographic Changes
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Seneca, a neighborhood in Buffalo, New York, has 75 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units, all designated as low-income, represent approximately 5.5% of the estimated 1,376 housing units in the neighborhood, based on the 2022 population of 3,591 and the national average household size.
The LIHTC program has allocated $570,444 in tax credits for affordable housing in Seneca, averaging $7,606 per unit. The neighborhood's LIHTC-funded housing is concentrated in a single project, the Seneca Street Special Needs SRO, completed in 2007. This project has provided affordable housing options in the area for over 15 years.
All 75 units in the Seneca Street Special Needs SRO are efficiency units, suggesting a focus on single-occupancy or small household accommodations. The project's name indicates it may cater to individuals with special needs, though specific target population information is not provided.
Seneca has experienced demographic shifts over the past decade. The population increased from 2,964 in 2017 to 3,591 in 2022, a 21% growth. Median income rose from $34,862 in 2017 to $40,082 in 2022, showing a 15% increase. The racial composition has also changed, with the white population decreasing from 84% in 2017 to 78% in 2022, while the Black population increased from 2% to 11%. The Hispanic population saw a slight increase from 8% to 10%.
Despite these demographic changes, no new LIHTC projects have been developed in Seneca since 2007. This lack of development could be attributed to various factors, including land availability, funding priorities, or changes in housing needs assessment.
Seneca's affordable housing landscape is characterized by a single LIHTC project providing 75 efficiency units for low-income residents. This project covers about 5.5% of the estimated housing inventory but has remained the sole LIHTC development for over a decade. The neighborhood has experienced population growth, income increases, and racial demographic shifts in recent years. These changes, coupled with the lack of new LIHTC developments, suggest a potential need for reassessment of affordable housing requirements in Seneca to ensure they align with the evolving community dynamics.
