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Affordable Housing Analysis in Zip Code 11223: A Decade of LIHTC Projects in Brooklyn
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brooklyn's 11223 zip code, located in New York, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 2,215 total units in LIHTC-funded projects, with 2,043 of these designated as low-income units. Based on the 2022 population of 85,802 and an estimated 32,874 housing units, the LIHTC-funded affordable housing comprises approximately 6.7% of the zip code's housing inventory.
The LIHTC projects in this zip code have received $8,273,288 in tax credits, averaging about $3,735 per unit in federal funding. This represents 0.39% of New York state's total LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
The zip code experienced LIHTC-funded affordable housing development from 2010 to 2011. The initial projects, Marlboro Phase I and Marlboro Phase II, were completed in 2010, followed by Marlboro Houses in 2011. This suggests a concentrated effort to increase affordable housing in the early 2010s.
The affordable housing inventory in this zip code is diverse, including 166 efficiencies, 282 one-bedroom units, 1,221 two-bedroom units, 504 three-bedroom units, and 42 four-bedroom units. This distribution caters to various household sizes, with a focus on two-bedroom apartments.
Over the past decade, the zip code has experienced population growth, increasing from 79,069 in 2013 to 85,802 in 2022. Median income has also risen significantly, from $47,822 in 2013 to $62,671 in 2022, suggesting overall economic improvement in the area.
The racial composition has shifted slightly, with the Asian population increasing from 23% to 27% and the white population decreasing from 61% to 50% between 2013 and 2022. The Hispanic population has remained relatively stable, fluctuating between 10% and 16% during this period.
The 11223 zip code in Brooklyn demonstrates a notable commitment to affordable housing through LIHTC-funded projects. With 2,215 total units, of which 2,043 are low-income, these developments play a crucial role in addressing housing needs. The area has seen demographic shifts, including population growth and increased median income, which may influence future affordable housing needs. The diversity in unit types suggests an effort to accommodate various household sizes within the affordable housing stock.
