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Affordable Housing Analysis in Zip Code 14519: LIHTC Projects in Ontario, New York
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 14519 in Ontario, New York, contains a total of 95 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise 2.12% of the estimated 4,483 housing units in the area. The LIHTC projects in this zip code were constructed between 1994 and 2000, indicating over two decades of affordable housing presence.
The LIHTC-funded projects in zip code 14519 include Brown Square Village II, completed in 1994 with 32 one-bedroom units; Brown Square Village I, completed in 1995 with 59 one-bedroom units; and Ontario Townhouses, completed in 2000 with 4 two-bedroom units. In total, these projects offer 91 one-bedroom units and 4 two-bedroom units, primarily serving smaller households or individuals.
The population in zip code 14519 has shown slight growth, increasing from 11,346 in 2020 to 11,701 in 2022. The median income has generally trended upward, rising from $77,535 in 2020 to $78,212 in 2022, with a peak of $83,181 in 2021. The racial composition of the area has remained predominantly white, with the percentage consistently around 92-93% from 2020 to 2022. A minor increase in racial diversity is noted, with the percentage of individuals identifying as two or more races rising from 5% in 2020 to 5% in 2022.
No new LIHTC projects have been constructed in zip code 14519 over the past decade. The stable population growth and increasing median income suggest that the demand for additional low-income housing may not have been as urgent in recent years. However, the current LIHTC inventory falls short of the ideal 15-20% affordable housing target for the area.
The LIHTC-funded affordable housing in zip code 14519 contributes to meeting the community's housing needs, particularly for smaller households. While the 2.12% coverage of total housing units by LIHTC projects is below the target range for affordable housing stock, it is important to note that other programs may also be contributing to the affordable housing inventory in this area.
In conclusion, zip code 14519 in Ontario, New York, maintains a modest LIHTC-funded affordable housing inventory. The area has experienced stable population growth and increasing median incomes over the past decade, which may have influenced the absence of new LIHTC projects in recent years. The racial composition has remained predominantly white, with a slight increase in diversity. Although the current LIHTC inventory does not meet the ideal affordable housing target, it is possible that other programs are supplementing the affordable housing needs of this community.
