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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14772, located in Randolph, New York, contains a LIHTC funded affordable housing inventory. This area has 24 total affordable housing units, all of which are designated as low-income units. The LIHTC funded housing comprises approximately 1.77% of the estimated 1,359 housing units in the zip code, based on the 2022 population of 3,547 and the national average household size of 2.61.
The LIHTC program has invested $149,349 in project tax credits for affordable housing in this zip code. This equates to an average federal funding of $6,223 per unit. The zip code's LIHTC funding represents 0.01% of New York state's total LIHTC credits.
Two LIHTC funded projects exist in the area: Randolph Area Community Apartments, completed in 2007, and Randolph Terrace Apartments, with an undisclosed completion year. This indicates at least 15 years of affordable housing presence in the zip code. The 2000s decade saw the most confirmed affordable housing development.
The housing inventory consists primarily of one-bedroom units (23) with one two-bedroom unit. Randolph Terrace Apartments contributes 22 units, all one-bedroom, while Randolph Area Community Apartments adds two units - one one-bedroom and one two-bedroom.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 3,400 and 3,550 residents. Median income has shown an upward trend, increasing from $42,104 in 2017 to $54,535 in 2022, a 29.5% rise over five years.
The racial composition has remained predominantly white, consistently above 90% throughout the decade. There have been slight increases in diversity, with small percentages of Black, Hispanic, Native American, and multiracial residents emerging or slightly increasing in recent years.
Zip code 14772 has a modest LIHTC funded affordable housing inventory, covering less than 2% of the estimated housing units. The area has seen stable population levels but significant income growth over the past decade. While the racial composition remains predominantly white, there are signs of increasing diversity. The LIHTC program has provided consistent support for affordable housing in this area, with a focus on one-bedroom units, potentially serving single individuals or small families.