The population in zip code 55446 has increased from 16,593 in 2010 to 25,783 in 2022, representing a 55% growth. This significant population increase may indicate a growing demand for housing, including affordable options.

The median income in zip code 55446 has risen from $130,578 in 2013 to $152,233 in 2022. This high median income suggests a potential need for affordable housing options for lower-income residents who may be priced out of the market.

Racial demographics in zip code 55446 have changed notably. The white population has decreased from 77% in 2013 to 65% in 2022. The Asian population has increased from 14% to 21%, and the population identifying as two or more races has grown from 2% to 6%. This increasing diversity may indicate changing housing needs and preferences in the community.

Zip code 55446 in Plymouth, Minnesota, has a small but significant LIHTC-funded affordable housing inventory, comprising 1.18% of the estimated housing stock. The area has seen two LIHTC projects completed between 2008 and 2012, providing 117 units primarily designed for families. Despite high median incomes, the rapid population growth and increasing diversity in the area suggest a potential ongoing need for affordable housing options. The LIHTC program's investment of over $1.6 million in this zip code represents a targeted effort to address affordable housing needs in this growing and changing community.