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Affordable Housing Analysis in Zip Code 10954: LIHTC Funded Units in Nanuet, 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 10954, located in Nanuet, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 82 affordable units, all designated as low-income units. This zip code covers 7.01 square miles and had a population of 26,119 in 2022.
The estimated housing inventory of 10,007 units indicates that LIHTC funded affordable housing comprises approximately 0.82% of the zip code's housing stock. The LIHTC projects in this zip code have received $147,272 in tax credits, averaging approximately $1,796 per unit. This zip code accounts for about 0.01% of the total state LIHTC funding.
The affordable housing presence in this zip code spans from 2005 to 2009, with two projects: Seton Village Senior Housing completed in 2005 and Maplewood Gardens finished in 2009. The 2000s decade saw the most affordable housing development in this area. The inventory consists primarily of one-bedroom units (61), with a small number of two-bedroom (2) and three-bedroom (3) units.
Over the last decade, the population in this zip code has increased from 23,240 in 2019 to 26,119 in 2022. The median income has decreased from $114,746 in 2019 to $102,583 in 2022. This decline in median income could potentially increase the need for affordable housing in the area.
Racial demographics have shifted, with the white population decreasing from 55% in 2019 to 48% in 2022. The Hispanic population has increased from 17% to 26% during the same period. The Asian and Black populations have remained relatively stable at around 11-12% each. These demographic changes may influence future affordable housing needs and development in the zip code.
Zip code 10954 in Nanuet, New York, has a small but significant LIHTC funded affordable housing inventory, covering about 0.82% of the estimated housing stock. The area has seen two LIHTC projects completed between 2005 and 2009, primarily offering one-bedroom units. Recent demographic trends, including population growth, decreasing median income, and shifts in racial composition, may impact future affordable housing needs in this zip code.
