Over the past decade, the population in zip code 08341 has shown an overall increasing trend, growing from 895 in 2013 to 1,129 in 2022. This population growth may have contributed to the need for affordable housing options.

Median income in the area has fluctuated significantly. It decreased from $49,097 in 2013 to a low of $37,869 in 2016, before rising sharply to $76,596 in 2022. This recent increase in median income could potentially impact future affordable housing needs.

Racial demographics have also shifted in zip code 08341. The white population percentage decreased from 62% in 2013 to 51% in 2022, while the Asian population increased from less than 1% to 11% during the same period. The Hispanic population has remained relatively stable, ranging between 22% and 34% over the decade.

Zip code 08341 in Buena, New Jersey, demonstrates a significant presence of LIHTC-funded affordable housing, covering approximately 18% of the estimated housing inventory. The area received substantial federal funding for these projects, amounting to $871,400 in tax credits. The development of affordable housing occurred primarily in the late 2000s and early 2010s. Despite fluctuations in median income and demographic shifts, the consistent population growth over the past decade underscores the ongoing importance of affordable housing options in this community.