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Affordable Housing Analysis in Zip Code 13032: Canastota's LIHTC Inventory and Population Growth
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 13032, encompassing Canastota in New York, contains 38 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This zip code spans 85.43 square miles and had a population of 13,323 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 5,105 units. LIHTC funded affordable housing comprises about 0.74% of the estimated housing units in the zip code.
The zip code features two LIHTC funded projects: Lenox Landing and Mh Armstrong Apts. Lenox Landing, completed in 1999, offers 32 units, while Mh Armstrong Apts provides 6 units. Affordable housing has been present in the zip code for at least 24 years. The unit distribution includes 14 one-bedroom units, 16 two-bedroom units, and 8 three-bedroom units, accommodating various household sizes.
Over the past decade, the zip code's population has fluctuated, increasing from 10,117 in 2019 to 13,605 in 2020, then declining slightly to 13,323 in 2022. The median income has generally increased, rising from $58,247 in 2019 to $62,477 in 2022, with a peak of $65,260 in 2021.
Racial demographics have remained relatively stable, with the white population being the predominant group, decreasing from 95% in 2019 to 89% in 2022. There has been a small increase in diversity, with the percentage of individuals identifying as two or more races rising from 3% in 2019 to 6% in 2022. 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 during this period.
The LIHTC funded affordable housing in zip code 13032 contributes a small but significant portion to the area's housing inventory, with 38 low-income units across two projects. This represents less than 1% of the estimated housing stock but offers important housing options for low-income residents. The zip code has experienced population growth and increasing median income over the past decade, which may have influenced the lack of new LIHTC projects during this period. The existing affordable housing units, with their mix of one to three-bedroom options, continue to serve the community's diverse housing needs.
