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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14607 in Rochester, New York, contains a population of 17,981 as of 2022. This area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 123 units, all of which are designated as low-income units. Based on an estimated housing inventory of 6,889 units, the LIHTC-funded affordable housing comprises approximately 1.78% of the zip code's housing stock.
The LIHTC projects in zip code 14607 have received $6,455,517 in project tax credits, averaging $52,484 per unit. This zip code holds 0.31% of the total state LIHTC funding, indicating a small but significant contribution to New York's affordable housing efforts.
Affordable housing has been present in this zip code for at least 23 years. The first recorded LIHTC project, Ambassadore Apts, was completed in 1994, and the most recent, Alexander Street Apartments, in 2017. The 2010s appear to be the decade with the most affordable housing projects completed, including notable projects such as Nota Special Needs Apartm (2012) and Alexander Street Apartments (2017).
The LIHTC-funded housing in zip code 14607 offers various unit types, including 33 efficiencies, 40 one-bedroom units, 40 two-bedroom units, 9 three-bedroom units, and 1 four-bedroom unit. This distribution suggests a focus on accommodating smaller households and individuals.
A notable project is the Nota Special Needs Apartm, completed in 2012, which targets individuals with mental illness. This specialized housing addresses the unique needs of a vulnerable population, potentially offering supportive services and adapted living environments.
Over the past decade, zip code 14607 has experienced a population increase from 15,428 in 2010 to 17,981 in 2022. The median income has also risen from $48,916 in 2013 to $52,343 in 2022, indicating modest economic growth.
Racially, the area has remained predominantly white, with a slight decrease from 79% in 2013 to 77% in 2020, followed by an increase to 79% in 2022. The Black population has decreased slightly from 11% to 8%, while the Hispanic population has increased from 4% to 7%. These demographic shifts may influence the ongoing need for diverse affordable housing options.
Zip code 14607 in Rochester, New York, demonstrates a consistent commitment to affordable housing through LIHTC funding. With 123 low-income units across multiple projects, the area has maintained steady development of affordable housing over the past two decades. The diverse unit types and specialized projects reflect efforts to address varied housing needs. While the LIHTC-funded units represent a small percentage of the estimated housing stock, they play a crucial role in providing affordable options in an area experiencing population growth and changing demographics. The continued investment in LIHTC projects, coupled with rising median incomes, suggests an ongoing effort to maintain affordable housing options in this evolving community.