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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Liberty, New York, zip code 12754, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 179 total units in LIHTC funded projects, with 178 designated as low-income units. Based on the estimated housing inventory of 2,557 units in the zip code, LIHTC funded affordable housing comprises approximately 7% of the area's housing stock.
The LIHTC projects in zip code 12754 have received $2,561,500 in tax credits, averaging about $14,310 per unit. This represents 0.12% of New York State's total LIHTC funding allocation. Affordable housing has been present in this community for over two decades, with the first LIHTC project, Liberty Apartments, completed in 1997, and the most recent, Chestnut Street Apartments, finished in 2020.
The 2010s experienced the most LIHTC development activity in this zip code, with two projects completed during this decade: Liberty Commons in 2010 and Chestnut Street Apartments in 2020. The housing inventory consists primarily of one-bedroom units (120), followed by three-bedroom (37) and two-bedroom (22) units.
One notable project, Chestnut Street Apartments, targets veterans and individuals with serious mental illness (SMI). This specialized housing likely provides supportive services tailored to the unique needs of these populations, such as mental health resources, job training, and social support programs.
Over the past decade, zip code 12754 has experienced fluctuations in population, with a recent increase to 6,674 residents in 2022. Median income has shown an overall upward trend, rising from $32,053 in 2013 to $50,010 in 2022. This increase in median income may indicate a growing need for affordable housing options to ensure economic diversity in the area.
Racial demographics have shifted notably, with the white population decreasing from 67% in 2013 to 45% in 2022. Conversely, the Hispanic population has grown from 24% to 37%, and the Black population has increased from 3% to 12% during the same period. These changes in racial composition suggest a diversifying community that may benefit from continued investment in affordable housing to support integration and equal opportunity.
The LIHTC program has played a crucial role in providing affordable housing in zip code 12754, with 179 units across three projects developed over more than two decades. While the current inventory represents about 7% of the estimated housing stock, the changing demographics and rising median income indicate an ongoing need for affordable housing options. The recent completion of specialized housing for veterans and individuals with SMI demonstrates a commitment to addressing diverse community needs through targeted LIHTC investments.