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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11249 in Brooklyn, New York, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 753 total units in LIHTC-funded projects, with 542 designated as low-income units. Based on the 2022 population estimate, the zip code has approximately 16,745 housing units, of which LIHTC-funded affordable housing comprises about 4.5%.
The LIHTC projects in zip code 11249 have received $10,342,931 in tax credits, averaging $13,736 in federal funding per unit. This zip code accounts for 0.49% of New York state's total LIHTC funding, indicating a notable concentration of affordable housing investment in the area.
Affordable housing has been present in zip code 11249 since 1989, when the first LIHTC project, "101-3 So Third St," was completed. The most recent projects, "101 S 5Th St Or Lpc Warehouse" and "Willamsburg Brideview," were finished in 2018, spanning nearly three decades of affordable housing development.
The 2010s saw the most affordable housing activity in zip code 11249, with five projects completed during this decade. Notable projects from this period include "11 Broadway" (2012), "149 Kent Avenue" (2016), and "Jarka Hall L.P." (2016). The LIHTC-funded housing in this zip code offers a range of unit types, including 150 efficiencies, 186 one-bedroom units, 172 two-bedroom units, 117 three-bedroom units, and 24 four-bedroom units.
Over the past decade, zip code 11249 has experienced significant population growth, increasing from 28,620 in 2010 to 43,704 in 2022. This 52.7% population increase coincides with the completion of several LIHTC projects. The median income in the area has risen from $55,716 in 2013 to $90,806 in 2022. Despite this increase, the continued development of affordable housing indicates an ongoing need for low-income units.
Racial demographics in zip code 11249 have remained relatively stable, with a slight decrease in the white population (from 71% in 2013 to 62% in 2022) and small increases in Asian, Black, and multi-racial populations. The Hispanic population has consistently represented about 20% of the area's residents.
Zip code 11249 in Brooklyn demonstrates a sustained commitment to affordable housing through LIHTC funding. The area has seen consistent development of affordable units over three decades, with a particular focus in the 2010s. While the LIHTC-funded units represent a small portion of the estimated housing stock, they provide a crucial resource for low-income residents in an area experiencing rapid population growth and rising median incomes. The diverse unit types available in these projects cater to various household needs, contributing to the area's housing diversity.