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Affordable Housing Analysis in Zip Code 12458: Senior-Focused LIHTC Projects in Napanoch, 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 12458, located in Napanoch, New York, contains 143 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This inventory represents approximately 16.5% of the estimated 868 total housing units in the zip code, which spans 40.1 square miles. The population of zip code 12458 was 2,266 in 2022.
The LIHTC projects in zip code 12458 have received $2,135,956 in tax credits, averaging about $14,937 per unit. This funding accounts for 0.1% of the total LIHTC allocation in New York state. Affordable housing development in this zip code began in 2008, with the most recent project completed in 2011.
The affordable housing inventory in zip code 12458 primarily consists of one-bedroom units, with 142 one-bedroom apartments and 1 two-bedroom unit. This composition indicates a focus on housing for individuals or small households, particularly seniors, as evidenced by the project names: Ellenville Senior Housing (2008), Ellenville Senior Housing II (2010), and Ellenville III Senior Housing (2011).
Zip code 12458 has experienced demographic changes over the past decade. The population decreased from 2,631 in 2016 to 2,266 in 2022, a decline of 13.9%. Despite this population decrease, the median income increased from $51,528 in 2016 to $65,277 in 2022, a rise of approximately 26.7%.
The racial composition of zip code 12458 has remained relatively stable. The white population increased slightly from 76% in 2016 to 81% in 2022. The Hispanic population decreased from 17% to 14% during the same period.
The focus on senior housing in the LIHTC projects aligns with the demographic trends in zip code 12458, potentially addressing the needs of an aging population. The rising median income, coupled with the population decrease, may indicate changing housing needs in the community.
Zip code 12458 in Napanoch, New York, demonstrates a commitment to affordable housing through its LIHTC-funded projects. The 143 affordable units, primarily consisting of one-bedroom apartments, meet about 16.5% of the zip code's estimated housing needs. The focus on senior housing aligns with demographic trends, while the rising median income and decreasing population suggest evolving community needs. The LIHTC program has played a significant role in providing affordable housing options in zip code 12458 over the past decade and a half.
