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Affordable Housing Analysis in Zip Code 06510: Three Decades of LIHTC Investments
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 06510 in New Haven, Connecticut, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 443 total units in LIHTC-funded projects, with 278 designated as low-income units. Based on the 2022 population of 4,001 and using the national average household size, the estimated housing units in this zip code are approximately 1,533. The LIHTC-funded affordable housing comprises about 28.9% of the estimated housing inventory, indicating a substantial presence of affordable housing in this area.
The zip code has three LIHTC-funded projects: Ninth Square Block 236, Liberty Safe Haven, and Residences At Ninth Square. The earliest known project completion was in 1993 with Ninth Square Block 236, followed by Liberty Safe Haven in 2004. This indicates that affordable housing has been part of this community for at least three decades.
The largest project in terms of units is the Residences At Ninth Square, with 335 total units and 196 low-income units. This project offers a range of unit sizes, including 26 efficiencies, 151 one-bedroom, and 158 two-bedroom units. Liberty Safe Haven, completed in 2004, consists of 33 efficiency units, all designated as low-income. In total, the LIHTC projects in this zip code provide 59 efficiencies, 151 one-bedroom units, and 158 two-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Over the past decade, the population in zip code 06510 has increased from 3,650 in 2013 to 4,001 in 2022. During this period, the median income has risen from $43,133 in 2013 to $72,201 in 2022, representing a 67.4% increase.
The racial composition of the area has remained relatively stable, with some shifts. The white population has decreased from 51% in 2013 to 48% in 2022. The Asian population has moved from 18% to 17%. The Black population has increased from 16% to 17%, while the Hispanic population has grown from 8% to 13% during this period.
These demographic trends, particularly the rising median income, may affect the need for affordable housing in the area. However, the presence of diverse communities and the significant proportion of LIHTC-funded units suggest an ongoing demand for affordable housing options.
Zip code 06510 in New Haven demonstrates a substantial presence of LIHTC-funded affordable housing, with nearly 29% of its estimated housing inventory dedicated to this purpose. The area has seen the development of affordable housing projects over at least three decades, with a mix of unit sizes catering to various household needs. While the median income has increased significantly over the past decade, the diverse racial composition and continued presence of LIHTC projects indicate an ongoing role for affordable housing in this community. The analysis highlights the relationship between demographic changes and affordable housing needs in urban areas.
