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Affordable Housing Analysis in Zip Code 12779: South Fallsburg's LIHTC Inventory
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 12779, encompassing South Fallsburg in New York, contains 88 total units of Low Income Housing Tax Credit (LIHTC) funded affordable housing, with 87 units designated as low-income. The estimated housing inventory for this zip code is approximately 742 units, based on the 2022 population of 1,936 and the national average household size of 2.61. LIHTC funded affordable housing comprises about 11.9% of the estimated housing inventory in this zip code.
Two LIHTC funded projects exist in zip code 12779: Main Street Houses and South Fallsburgh Manor Apts. Main Street Houses, completed in 1995, was the initial LIHTC project in the area, indicating a nearly three-decade presence of affordable housing. This project contains 62 total units, with 61 designated as low-income units, offering a mix of one-bedroom (23), two-bedroom (28), and three-bedroom (1) units.
South Fallsburgh Manor Apts, the second project, comprises 26 units, all of which are low-income. It provides 8 one-bedroom and 18 two-bedroom units. The 1990s marked the period of most significant affordable housing development in this zip code. In total, the LIHTC funded projects in zip code 12779 offer 31 one-bedroom units, 46 two-bedroom units, and 1 three-bedroom unit, accommodating various household sizes and needs.
The population in zip code 12779 has fluctuated over the past decade, with a notable increase from 1,613 in 2020 to 1,936 in 2022. Median income has shown significant variability, rising from $32,593 in 2019 to $53,276 in 2021, before decreasing to $30,259 in 2022. This recent decline in median income may indicate an increased need for affordable housing options.
Racial demographics have remained relatively stable, with the white population comprising the majority, followed by Hispanic and Black populations. The Hispanic population has shown a slight increase from 32% in 2019 to 38% in 2022, while the Black population has remained around 9-12% in recent years.
Zip code 12779 in South Fallsburg, New York, has a notable presence of LIHTC funded affordable housing, covering about 11.9% of the estimated housing inventory. The two projects, developed primarily in the 1990s, offer a range of unit sizes to accommodate diverse household needs. Recent demographic trends, particularly the fluctuating median income and slight changes in racial composition, may influence future affordable housing needs in this area. The existing LIHTC projects contribute significantly to meeting the affordable housing needs of the community, though there may be room for additional development to reach the ideal 15-20% target for a well-balanced community.
