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Affordable Housing Analysis in Zip Code 12051: Coxsackie's Peppertree Apartments
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 12051, located in Coxsackie, New York, contains a total of 48 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units represent approximately 2.07% of the estimated 2,319 housing units in the zip code. All 48 units are designated as low-income units.
The LIHTC program has invested $379,033 in tax credits for affordable housing projects in zip code 12051. This investment averages $7,896 per unit in federal funding. The zip code accounts for 0.02% of the total state LIHTC funding. The affordable housing in this area is concentrated in a single project, Peppertree Apts, which was completed in 2007 and has been providing housing options for over 15 years.
The unit distribution in the LIHTC funded project consists of 18 one-bedroom units and 3 two-bedroom units. This composition indicates a focus on smaller households or individuals requiring affordable housing options.
Zip code 12051 has experienced a gradual decrease in population over the past decade, from 6,713 in 2013 to 6,052 in 2022. Despite this decline, the median income has shown an overall upward trend, increasing from $61,435 in 2013 to $68,001 in 2022, with some fluctuations during this period.
The racial demographics of zip code 12051 have remained relatively stable. The area has maintained a predominantly white population, with a slight increase from 60% in 2013 to 70% in 2022. The Black population has remained relatively constant, ranging between 19-24% over the decade. The Hispanic population has seen a slight decrease from 10% in 2013 to 8% in 2022.
In summary, zip code 12051 has a modest LIHTC funded affordable housing inventory, with 48 units concentrated in a single project. This represents a small portion of the estimated housing stock but has been a consistent presence in the community since 2007. The area has experienced a slight population decline and an increase in median income over the past decade, which may influence the demand for affordable housing. The racial demographics have remained relatively stable, with a predominantly white population and significant Black and Hispanic minorities.
