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Affordable Housing Analysis in Brooklyn's Zip Code 11233: A Comprehensive Study of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 11233 zip code in Brooklyn, New York, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 2,744 units in LIHTC-funded projects, with 2,534 designated as low-income units. The LIHTC-funded affordable housing constitutes approximately 8.7% of the total housing stock, based on an estimated housing inventory of 31,567 units for the zip code.
LIHTC projects in this zip code have received $36,113,393 in tax credits, averaging about $13,161 per unit in federal funding. The zip code accounts for 1.71% of the total LIHTC funding allocated to New York State, indicating substantial investment in affordable housing for this area.
Affordable housing has been a consistent feature of this zip code since 1991, with the most recent project completed in 2018. This demonstrates nearly three decades of continuous affordable housing development. The 1990s witnessed the highest number of affordable housing project completions, including notable developments such as "Round III (Genesis)" and "Round IV (Brooklyn)."
The LIHTC-funded housing in this zip code offers a diverse range of unit types, including 434 efficiencies, 323 one-bedroom units, 801 two-bedroom units, 208 three-bedroom units, and 1 four-bedroom unit. This variety caters to different household sizes and needs within the community.
Several projects target specific populations with unique needs. For example, the "Mother Gaston Supportive Housing Project" (2009) and "Concern Macdougal" (2011) focus on individuals with mental illness. The "Bergen Saratoga Apartments" (2016) serves those with severe persistent illness, while the "Bridge Community" (2018) is designed for domestic abuse victims.
Over the past decade, the zip code has experienced significant demographic changes. The population increased from 67,085 in 2013 to 82,390 in 2022, a 22.8% growth. Median income rose substantially, from $38,074 in 2013 to $54,948 in 2022, representing a 44.3% increase.
Racial demographics shifted as well. The Black population percentage decreased from 80% in 2013 to 66% in 2022, while the White population increased from 3% to 12% during the same period. The Hispanic population remained relatively stable, increasing slightly from 14% to 16%.
Despite rising incomes and changing demographics, LIHTC projects continued to be developed in this area through 2018, indicating an ongoing need for affordable housing even as the neighborhood evolved.
The 11233 zip code in Brooklyn demonstrates a substantial inventory of LIHTC-funded affordable housing, representing 8.7% of the estimated housing stock. With over $36 million in tax credits invested and nearly three decades of continuous development, this area shows a long-term commitment to affordable housing. The diverse range of unit types and targeted populations in these projects reflects efforts to meet varied community needs. Despite significant demographic changes, including population growth and rising incomes, the continued development of LIHTC projects through 2018 suggests a persistent demand for affordable housing in this evolving neighborhood.
