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Affordable Housing Analysis in Zip Code 03031: LIHTC Impact on Amherst, New Hampshire
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 03031 in Amherst, New Hampshire, has a population of 12,130 as of 2022 and covers an area of 35.55 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 70 total units in this zip code, with 49 of these designated as low-income units. Based on the estimated housing inventory of 4,648 units, the LIHTC-funded affordable housing covers approximately 1.51% of the zip code's housing stock.
The LIHTC projects in this zip code have received $584,060 in tax credits, averaging $8,344 per unit. This funding represents 1.16% of New Hampshire's total LIHTC allocation. The affordable housing presence spans over a decade, with the first project, Parkhurst Place, completed in 2002, and the most recent, Hidden Pond, in 2013. The 2010s saw the most affordable housing development in this zip code.
The LIHTC-funded projects offer a mix of unit types, with 34 one-bedroom and 36 two-bedroom units. Parkhurst Place provides 42 units, with 21 designated as low-income, while Hidden Pond offers 28 units, all of which are low-income.
Over the past decade, the zip code's population has grown moderately, increasing from 11,713 in 2013 to 12,130 in 2022. The median income has also risen, from $121,176 in 2013 to $137,923 in 2022, indicating a generally affluent area. The racial composition has remained relatively stable, with the white population consistently representing about 94% of residents. There has been a slight increase in Hispanic and Asian populations, each growing from 2% to 3% over this period.
The LIHTC program has made a modest contribution to affordable housing in zip code 03031, providing 70 units over two projects completed in the last two decades. This represents a small percentage of the estimated housing stock. The area has experienced steady population growth and increasing median incomes, which may influence the need for affordable housing in this relatively affluent and predominantly white community.
