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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11691, located in Queens, New York, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has a total of 3,856 units in LIHTC-funded projects, with 2,246 of these designated as low-income units. Based on the 2022 population of 73,971 and an estimated 28,341 housing units, the LIHTC-funded affordable housing covers approximately 13.6% of the zip code's housing inventory.
The LIHTC projects in this zip code have received $23,498,530 in tax credits, averaging about $6,094 per unit. This zip code holds 1.11% of the total state LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been a long-standing feature of this zip code, with projects spanning from 2002 to 2019. The earliest project, Wavecrest Apts II, was completed in 2002, while the most recent projects, Ocean Bay Apartments and BGN II Affordable Owners LLC, were finished in 2019. The 2010s saw the most affordable housing development, with eight projects completed during this decade.
The LIHTC-funded projects in this zip code offer a diverse range of unit types. Out of the 3,856 total units, there are 221 efficiencies, 1,251 one-bedroom units, 1,521 two-bedroom units, 243 three-bedroom units, and 130 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on one and two-bedroom apartments.
Over the past decade, the zip code has experienced steady population growth, increasing from 63,765 in 2013 to 73,971 in 2022. This 16% population increase coincides with the completion of several LIHTC projects, suggesting a response to growing housing needs.
Median income in the area has fluctuated, rising from $53,099 in 2013 to $60,787 in 2022, with some variations in between. This overall increase in median income, coupled with continued LIHTC development, indicates an ongoing need for affordable housing despite rising incomes.
Racial demographics have remained relatively stable, with a slight decrease in the Black population (from 46% to 43%) and small increases in Asian (1% to 4%) and Hispanic (27% to 25%) populations between 2013 and 2022. The consistent racial diversity in the area may have influenced the continued development of affordable housing to serve various community needs.
Zip code 11691 in Queens, New York, demonstrates a substantial commitment to affordable housing through LIHTC-funded projects. With 13.6% of the estimated housing inventory dedicated to affordable units, the area approaches the target range for a well-balanced community. The consistent development of LIHTC projects over nearly two decades, particularly in the 2010s, reflects an ongoing effort to address housing needs in a growing and diverse population. The variety of unit types available suggests an attempt to accommodate different household sizes and needs within the community.