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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11203, located in Brooklyn, New York, contains a significant inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area encompasses 472 total units in LIHTC-funded projects, with 469 of these designated as low-income units. Based on the 2022 population of 79,145 and an estimated 30,324 housing units, the LIHTC-funded affordable housing comprises approximately 1.56% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 11203 have received $45,560,955 in tax credits, averaging about $96,528 per unit. This zip code accounts for 2.16% of New York state's total LIHTC funding, indicating a substantial investment in affordable housing for this area.
Affordable housing has been present in zip code 11203 for over two decades. The initial LIHTC project, East NY Cluster, was completed in 2001, while the most recent, CAMBA Gardens II, was finished in 2016. The 2010s experienced the most affordable housing development, with three projects completed during this decade.
The LIHTC-funded housing in zip code 11203 offers a diverse range of unit types. Of the 472 total units, there are 175 efficiencies, 200 one-bedroom units, 63 two-bedroom units, and 28 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, the population in zip code 11203 has remained relatively stable, with a slight increase from 77,148 in 2014 to 79,145 in 2022. The median income has shown a general upward trend, rising from $55,973 in 2014 to $59,895 in 2022, with a peak of $67,687 in 2021.
Regarding racial demographics, zip code 11203 has consistently maintained a predominantly Black population, though this percentage has decreased slightly from 87% in 2014 to 79% in 2022. There has been a small increase in racial diversity, with slight growth in Asian, Hispanic, and White populations, as well as those identifying as two or more races.
The completion of LIHTC projects in zip code 11203, particularly in the early to mid-2010s, aligns with the period of relative stability in population and gradual increase in median income. This suggests that these projects may have helped maintain housing affordability in the face of rising incomes.
Zip code 11203 in Brooklyn has a notable LIHTC-funded affordable housing presence, covering about 1.56% of the estimated housing inventory. The area has received significant investment, holding 2.16% of New York's total LIHTC funding. The housing stock is diverse, with a focus on smaller units. The population has remained relatively stable over the past decade, with a gradual increase in median income and slight shifts in racial demographics. The LIHTC projects, developed over two decades, appear to have played a role in maintaining housing affordability in this evolving urban landscape.