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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Northwest Harbor, located in zip code 11937 in New York, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 70 total units, with 52 of those designated as low-income units. This zip code has an estimated population of 21,049 as of 2022, with an estimated 8,065 housing units based on the national average household size.
The LIHTC funded affordable housing in this zip code covers approximately 0.87% of the estimated housing inventory. This percentage indicates that LIHTC projects contribute to a small portion of the area's housing needs.
LIHTC funded affordable housing has been present in this zip code since 1998, with the most recent project completed in 2003. The two notable projects in this area are the Accobanac Project and Windmill Village Phase II.
The 1990s and early 2000s saw the development of these affordable housing projects. The Accobanac Project, completed in 1998, offers a mix of unit sizes, including one-bedroom, two-bedroom, and three-bedroom units. Windmill Village Phase II, completed in 2003, focuses entirely on one-bedroom units.
In total, the LIHTC funded projects in this zip code provide 59 one-bedroom units, 3 two-bedroom units, and 8 three-bedroom units. This distribution indicates a focus on smaller households, with a majority of units being one-bedroom apartments.
Over the past decade, the population in this zip code has shown significant growth, increasing from 16,141 in 2019 to 21,049 in 2022. The median income has fluctuated, reaching a peak of $143,293 in 2021 before decreasing to $108,433 in 2022.
The racial composition of the area has also changed. The percentage of white residents has decreased from 66% in 2019 to 58% in 2022, while the Hispanic population has increased from 27% to 34% during the same period. There have been slight increases in the Asian, Black, and multiracial populations as well.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including the relatively high median income in the area or potential changes in local housing policies.
The LIHTC program has contributed to the affordable housing stock in Northwest Harbor, providing 70 units, with 52 designated as low-income. While these projects represent a small percentage of the estimated housing inventory, they offer a range of unit sizes to accommodate different household needs. The area has experienced significant population growth and demographic shifts in recent years, which may influence future affordable housing needs and development strategies.