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Affordable Housing Analysis in Zip Code 10601: LIHTC Funded Projects in White Plains, New York
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 10601 in White Plains, New York, contains a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 256 total units in LIHTC funded projects, with 253 designated as low-income units. Based on the 2022 population of 11,307 and an estimated 4,332 housing units, LIHTC funded affordable housing comprises approximately 5.9% of the zip code's estimated housing inventory.
LIHTC projects in zip code 10601 have received $3,909,585 in project tax credits, averaging $15,272 per unit. This funding represents 0.19% of New York state's total LIHTC allocation, indicating a significant investment in affordable housing for this area. Affordable housing has been present in this zip code since at least 2007, with the completion of the Armory Plaza project. The most recent project, Winbrook Phase 1, was completed in 2015, demonstrating an 8-year span of affordable housing development. The 2010s saw the most affordable housing activity, with three projects completed during this decade.
The LIHTC funded housing in zip code 10601 offers a range of unit types. Of the 256 total units, there are 38 efficiencies, 147 one-bedroom units, 46 two-bedroom units, and 25 three-bedroom units. This distribution indicates a focus on accommodating smaller households and families.
Over the past decade, the population in zip code 10601 has remained relatively stable, fluctuating between 10,000 and 11,500 residents. The median income has shown an overall upward trend, rising from $78,889 in 2017 to $86,430 in 2022, with a peak of $96,963 in 2021. This increase in median income may indicate a growing need for affordable housing options to maintain economic diversity in the area.
Racial demographics in zip code 10601 have shifted slightly, with the Asian population increasing from 11% in 2013 to 14% in 2022, while the Black population decreased from 21% to 14% over the same period. The Hispanic population has grown from 22% to 27%, and the White population has remained relatively stable at around 43%. These demographic changes may influence future affordable housing needs and strategies.
Zip code 10601 in White Plains has a notable LIHTC funded affordable housing inventory, covering about 5.9% of the estimated housing units. With over $3.9 million in tax credits invested, this area has seen consistent development of affordable housing projects from 2007 to 2015. The diverse unit types cater to various household sizes, while demographic trends suggest an ongoing need for affordable housing options in this evolving community.
