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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10553 in Mount Vernon, New York, contains 67 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise approximately 1.3% of the estimated 5,138 housing units in the zip code. The area features two LIHTC funded projects: "284 South Columbus Avenue" and "St John The Divine Episcopal Senior Res." The first project, completed in 1995, introduced 65 affordable units, while the second project, finished in 2005, added 2 more units. This indicates that affordable housing has been present in the zip code for nearly three decades.
The housing inventory includes a mix of unit types: 5 efficiencies, 31 one-bedroom units, 26 two-bedroom units, and 5 three-bedroom units. This diverse range of unit sizes suggests an effort to accommodate various household compositions within the affordable housing stock. The 1990s saw the largest addition of affordable housing units in this zip code.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 12,600 and 13,500 residents. The median income has shown an overall upward trend, increasing from $69,649 in 2013 to $80,672 in 2022, with some fluctuations in between. The racial composition of the zip code has seen slight changes. While the African American population remains the majority, it has decreased from 81% in 2019 to 71% in 2022. Conversely, the Hispanic population has increased from 11% to 14% during the same period. The white population has also seen a modest increase from 4% to 10%.
These demographic shifts, particularly the rising median income, may partially explain why no new LIHTC projects have been developed in the area since 2005. However, it is important to note that other factors and housing programs not captured in this data could also influence affordable housing development decisions.
Zip code 10553 in Mount Vernon, New York, has a small but established presence of LIHTC funded affordable housing, with 67 units across two projects developed between 1995 and 2005. While this represents only 1.3% of the estimated housing stock, it provides a variety of unit sizes to serve different household needs. The area has experienced demographic changes over the past decade, including a rising median income and slight shifts in racial composition. These factors may have influenced the lack of new LIHTC developments in recent years, though a comprehensive understanding would require consideration of additional housing programs and local market conditions.