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Affordable Housing Analysis in Zip Code 14487: LIHTC Contributions and Demographic Trends
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 14487, encompassing Conesus Lake in New York, contains 72 Low Income Housing Tax Credit (LIHTC) funded affordable housing units. This area spans 33.44 square miles and had a population of 5,932 in 2022. The LIHTC units represent approximately 3.17% of the estimated 2,273 housing units in the zip code, indicating a small but significant contribution to affordable housing.
The LIHTC projects in zip code 14487 have received $720,316 in tax credits, averaging $10,004 per unit. This amount constitutes 0.03% of New York state's total LIHTC funding. The affordable housing inventory primarily consists of one-bedroom units (68) and a few two-bedroom units (4), suggesting a focus on smaller households or individuals.
Two notable LIHTC projects in the area are Wildbriar Estates, completed in 2019, and Westview Hills. The recent completion of Wildbriar Estates indicates ongoing investment in affordable housing in this zip code.
The population in zip code 14487 has shown minor fluctuation over the past decade, decreasing slightly from 5,987 in 2013 to 5,932 in 2022. Median income has varied, ranging from $69,673 in 2018 to $81,453 in 2021, before settling at $71,369 in 2022.
Racial demographics have remained relatively constant, with the white population consistently comprising over 90% of residents. A slight increase in diversity has occurred, with the percentage of residents identifying as two or more races growing from 0% in 2013 to 5% in 2022.
The completion of Wildbriar Estates in 2019 coincides with a period of relatively stable population and income levels, suggesting a response to ongoing affordable housing needs in the area.
The LIHTC program has made a modest contribution to affordable housing in zip code 14487, providing 72 low-income units. This represents a small percentage of the estimated housing stock but reflects ongoing efforts to address affordable housing needs. The focus on one-bedroom units indicates a tailored approach to local housing demands. The recent completion of Wildbriar Estates in 2019 demonstrates continued investment in affordable housing, coinciding with relatively stable demographic trends in the area.
