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Affordable Housing Analysis in Golden, Colorado: Zip Code 80401's LIHTC Funded Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 80401 in Golden, Colorado, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The zip code contains 131 units in LIHTC funded projects, with 130 designated as low-income units. Based on the estimated housing inventory of 16,050 units for the zip code, LIHTC funded affordable housing comprises approximately 0.82% of the total housing stock.
The LIHTC projects in zip code 80401 have received $2,097,152 in project tax credits, averaging about $16,008 per unit. This zip code holds 0.48% of the total state LIHTC funding, indicating a modest but significant contribution to Colorado's affordable housing efforts.
Affordable housing has been present in zip code 80401 since at least 1997, with the completion of the Foothills Green project. The most recent project, Lewis Court Apartments, was completed in 2012, spanning a 15-year period of LIHTC-funded development. The 2010s saw the most affordable housing activity, with two projects completed during this decade.
The LIHTC-funded housing inventory in zip code 80401 includes 24 one-bedroom units, 16 two-bedroom units, and 73 three-bedroom units, providing a diverse range of options for different household sizes.
Over the past decade, zip code 80401 has experienced steady population growth, increasing from 37,654 in 2013 to 41,890 in 2022. Median income has also risen significantly, from $87,571 in 2013 to $99,295 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population (from 85% to 82%) and small increases in Hispanic (from 9% to 11%) and Asian (from 2% to 3%) populations.
Despite the growing population and rising median income, there have been no new LIHTC projects completed in zip code 80401 since 2012. This could suggest that other affordable housing initiatives may be addressing the area's needs, or that the focus has shifted to maintaining existing affordable housing stock rather than developing new projects.
Zip code 80401 in Golden, Colorado, has a modest but established LIHTC-funded affordable housing presence, with 131 total units developed over a 15-year period. While these units represent a small percentage of the estimated housing inventory, they provide valuable affordable options in an area that has seen significant population growth and rising median incomes over the past decade. The lack of new LIHTC projects since 2012 may warrant further investigation into current affordable housing needs and strategies in the area.
