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Affordable Housing Analysis in Zip Code 03833: Two Decades of LIHTC Development in Exeter, 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 03833 in Exeter, New Hampshire, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 106 affordable units, including 99 low-income units. This represents approximately 1.25% of the estimated 8,510 housing units in the zip code, based on the 2022 population of 22,212.
LIHTC projects in zip code 03833 have received $1,421,945 in project tax credits, averaging $13,415 per unit. This allocation constitutes 2.82% of New Hampshire's total LIHTC funding. The presence of affordable housing in this zip code dates back to at least 1995 with the completion of the Summer Street project. The most recent project, Three Meeting Place, was completed in 2018, indicating over two decades of affordable housing development.
The LIHTC-funded housing in zip code 03833 offers a variety of unit types, including 3 efficiencies, 55 one-bedroom units, and 35 two-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Zip code 03833 has experienced steady population growth over the past decade, increasing from 20,570 in 2010 to 22,212 in 2022. The median income has fluctuated but generally remained high, reaching $94,519 in 2022. Despite this relative affluence, the presence of LIHTC projects indicates recognition of the need for affordable housing options within the community.
The racial composition of zip code 03833 has remained predominantly white, though there has been a slight increase in diversity. The Asian population grew from 1% in 2013 to 4% in 2022, while the Hispanic population remained stable at around 2%. This gradual diversification may have influenced the continued development of affordable housing options to ensure inclusivity.
Zip code 03833 in Exeter, New Hampshire, demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. While these units represent a small percentage of the overall housing inventory, they provide crucial options for lower-income residents in an area with generally high median incomes. The steady population growth and slight increase in diversity over the past decade align with the continued development of affordable housing projects, reflecting an evolving community landscape.
