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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 13126 in Oswego, New York, contains 251 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income. This zip code spans 99.36 square miles and had a population of 35,757 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 13,700 units. The LIHTC-funded affordable housing represents about 1.83% of the estimated housing inventory in the zip code.
The LIHTC projects in this zip code have received $5,108,411 in project tax credits, averaging approximately $20,352 per unit in federal funding. This zip code accounts for 0.24% of the total state LIHTC funding, indicating a modest contribution to New York's affordable housing efforts.
Affordable housing has been present in this zip code since at least 2009, with the completion of Oswego Hamilton Homes Phase I. The most recent project, Champlain Commons, was completed in 2019, demonstrating a decade-long commitment to affordable housing development. The 2010s saw the most affordable housing activity, with projects completed in 2009, 2010, 2011, 2013, and 2019.
The LIHTC-funded projects in this zip code offer a range of unit types. The inventory includes 63 one-bedroom units, 78 two-bedroom units, 55 three-bedroom units, and 28 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and household compositions.
Over the past decade, zip code 13126 has experienced a slight population decline, from 36,743 in 2013 to 35,757 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $52,910 in 2013 to $57,871 in 2022, with some fluctuations in between.
The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population from 92% in 2013 to 89% in 2022. There has been a small increase in diversity, with slight growth in the Hispanic population (from 3% to 4%) and those identifying as two or more races (from 1% to 3%).
The continued development of LIHTC projects throughout this period, despite the slight population decline, suggests an ongoing need for affordable housing in the area. The rising median income may indicate a growing disparity between higher-income and lower-income residents, potentially increasing the importance of affordable housing options.
Zip code 13126 in Oswego, New York, has a notable LIHTC-funded affordable housing inventory, with 251 low-income units developed over the past decade. While these units represent a small percentage of the estimated housing stock, they play a role in providing affordable options in an area with rising median incomes. The diverse unit types cater to various household sizes, reflecting a comprehensive approach to affordable housing development. Despite a slight population decline, the continued investment in LIHTC projects suggests an ongoing commitment to addressing affordable housing needs in the community.