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Affordable Housing Analysis in Zip Code 10990: LIHTC Funded Projects in Warwick, NY
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10990, located in Warwick, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 302 units in LIHTC funded projects, with 290 designated as low-income units. Based on the estimated housing inventory of 7,697 units in the zip code, LIHTC funded affordable housing comprises approximately 3.92% of the total housing stock.
The LIHTC program has invested in this zip code, with project tax credits totaling $1,383,793. This equates to an average federal funding of $4,582 per unit in LIHTC funded projects. Zip code 10990 accounts for 0.07% of the total LIHTC funding allocated to New York state.
Affordable housing development in this zip code spans from 1996 to 2011. The earliest project, Devon Woods Senior Citizens Affordable Housing, was completed in 1996, and the most recent identified project, Liberty Green III, was completed in 2011. This indicates a 15-year period of LIHTC-supported affordable housing development in the area. The 2000s saw the most activity, with two projects completed: Liberty Green I in 2009 and Liberty Green III in 2011.
The LIHTC funded projects in zip code 10990 primarily consist of one-bedroom units, with 300 out of the 302 total units in this category. The remaining 2 units are three-bedroom apartments, suggesting a focus on housing for smaller households or individuals.
Zip code 10990 experienced population growth from 19,323 in 2016 to 20,089 in 2022. Median income increased from $101,673 in 2016 to $116,109 in 2022, indicating improved economic conditions.
Racial demographics remained relatively stable, with a predominant white population. The Hispanic population grew from 5% in 2016 to 9% in 2022, and there was a small increase in residents identifying as two or more races.
The analysis of LIHTC funded affordable housing in zip code 10990 shows a moderate presence of affordable units, comprising nearly 4% of the estimated housing stock. The area saw consistent development of affordable housing projects over a 15-year period, focusing on one-bedroom units. While the zip code experienced population growth and significant increases in median income over the past decade, the racial composition remained relatively stable with a slight trend towards increased diversity. These demographic shifts may influence future affordable housing needs and development in the area.
