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Affordable Housing Analysis in Zip Code 12144: St Anthony On-The-Hudson Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 12144 in Rensselaer, New York, encompasses an area of 18.48 square miles with a population of 21,549 as of 2022. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in this zip code consists of 63 total units, with 49 designated as low-income units. This represents approximately 0.76% of the estimated housing inventory of 8,256 units in the zip code.
The LIHTC program has allocated $236,041 in tax credits for affordable housing projects in zip code 12144. This equates to an average federal funding of $3,746 per unit. These tax credits constitute 0.01% of the total state funding allocated for affordable housing through the LIHTC program.
St Anthony On-The-Hudson, completed in 2005, is the only LIHTC funded project in this zip code. This project has provided affordable housing options in the area for over 15 years. The affordable housing inventory comprises 14 one-bedroom units and 49 two-bedroom units, indicating a focus on accommodating small families and individuals.
The population in zip code 12144 has experienced slight fluctuations over the past decade, with an overall increase from 20,410 in 2015 to 21,549 in 2022. The median income has risen significantly from $65,655 in 2015 to $81,731 in 2022, suggesting an improving economic situation for residents.
Racial demographics in the zip code have remained relatively stable. The white population decreased slightly from 85% in 2015 to 79% in 2022. There have been small increases in Asian, Black, and Hispanic populations, each growing from approximately 3-4% to 5% over this period. This indicates a gradual increase in diversity within the zip code.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and relatively stable population, potentially indicating a reduced need for additional low-income housing units.
Zip code 12144 has a modest LIHTC funded affordable housing inventory, with one project providing 63 units, of which 49 are designated as low-income. This represents a small portion of the estimated housing stock but has been a consistent presence since 2005. The area has experienced economic growth and slight demographic shifts over the past decade, which may have influenced the lack of new LIHTC projects. The existing affordable housing units primarily serve small families and individuals, reflecting the needs of the local population.
