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Affordable Housing Analysis in Zip Code 11701: Two Decades of LIHTC Investment in Amityville, 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 11701, located in Amityville, New York, has a population of 27,943 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 116 total units in this area, including 58 designated low-income units. Based on an estimated housing inventory of 10,706 units, the LIHTC-funded affordable housing covers 1.08% of the zip code's housing stock.
The LIHTC program has invested $1,565,951 in tax credits for affordable housing projects in zip code 11701. This equates to an average federal funding of $13,500 per unit. Zip code 11701 accounts for 0.07% of the total LIHTC funding allocated to New York state. Affordable housing has been present in this community since 1995, with the completion of Krystie Manor. The most recent project, Andpress Plaza, was completed in 2016, indicating over two decades of LIHTC investment in the area.
The affordable housing inventory in zip code 11701 consists of 54 one-bedroom units and 16 two-bedroom units. This distribution indicates a focus on smaller household sizes within the LIHTC-funded developments. The 2010s saw the most significant development in affordable housing, with two projects completed during this decade: Concern Amityville in 2014 and Andpress Plaza in 2016.
Over the past decade, the population in zip code 11701 has shown slight fluctuations, with an overall growth trend. The median income has increased from $84,207 in 2013 to $91,344 in 2022, indicating a gradual improvement in economic conditions. Racial demographics have remained relatively stable, with slight shifts observed. The Black population has remained consistent at around 33-35%, while the Hispanic population has decreased from 29% in 2015 to 25% in 2022. The White population has increased from 33% in 2015 to 35% in 2022.
The completion of two LIHTC projects in 2014 and 2016 aligns with a period of population growth and increasing median income, suggesting a proactive approach to maintaining affordable housing options amid economic changes. Zip code 11701 has a modest LIHTC-funded affordable housing inventory, covering just over 1% of its estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with a particular focus on smaller units.
The LIHTC program has made a contribution to affordable housing in zip code 11701. However, the relatively low percentage of covered housing suggests there may be opportunities for further development to meet the needs of low-income residents. The demographic trends indicate a stable community with gradual economic improvement, which may influence future affordable housing needs and developments.
