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Affordable Housing Analysis in Brooklyn's 11226 Zip Code: LIHTC-Funded Projects and 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
Brooklyn's 11226 zip code, located in New York, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 269 total units in LIHTC-funded projects, with 208 of these designated as low-income units. Based on the 2022 population of 105,024 and an estimated 40,239 housing units, the LIHTC-funded affordable housing represents approximately 0.67% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $979,600 in project tax credits, averaging about $3,642 per unit. This zip code accounts for 0.05% of New York's total state LIHTC funding. Affordable housing has been present in the zip code since at least 1996, with the earliest recorded projects being Bedford Community Development Corp, Martense Street Apts, and Woodruff Project. The most recent project, Tilden Gardens, was completed in 2015, indicating nearly two decades of LIHTC investment in the area.
The 1990s experienced the highest affordable housing development, with four projects completed during this decade. The LIHTC-funded housing inventory in this zip code includes a diverse mix of unit types: 109 efficiencies, 68 one-bedroom units, 23 two-bedroom units, and 6 three-bedroom units.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 100,157 and 105,691. The median income has shown a significant increase, rising from $46,568 in 2013 to $63,953 in 2022. This upward trend in income may partially explain the lack of new LIHTC projects since 2015.
Regarding racial demographics, the zip code has experienced a gradual shift. The Black population has decreased slightly from 72% in 2013 to 63% in 2022, while the White population has increased from 6% to 14% during the same period. The Hispanic population has remained relatively stable at around 15-16%.
The 11226 zip code in Brooklyn has a modest LIHTC-funded affordable housing inventory, covering less than 1% of the estimated housing units. The area saw most of its LIHTC development in the 1990s, with the most recent project completed in 2015. The zip code's demographic trends show a rising median income and a gradual shift in racial composition, which may influence future affordable housing needs and development in the area.
