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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 30033, located in North Decatur, Georgia, has a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. This zip code contains 90 affordable housing units funded by LIHTC across 2 projects. Based on the 2022 population of 30,667 and an estimated 11,750 housing units, the LIHTC-funded affordable housing comprises approximately 0.77% of the zip code's estimated housing inventory.
The LIHTC program has contributed to affordable housing in zip code 30033 since 2003, with the completion of Cedar Creek Apartments and Cedar Creek West Apartments. This indicates nearly two decades of LIHTC presence in the area.
The inventory of LIHTC-funded units in zip code 30033 is diverse, consisting of 1 efficiency, 13 one-bedroom, 23 two-bedroom, and 53 three-bedroom units. This distribution indicates a focus on accommodating families and larger households.
Over the past decade, the population in zip code 30033 has increased from 28,344 in 2013 to 30,667 in 2022. The median income has risen from $73,512 in 2013 to $93,907 in 2022, indicating a trend towards higher economic prosperity in the area.
The racial composition of zip code 30033 has become more diverse over the last decade. The white population has decreased from 66% in 2013 to 58% in 2022, while the Black population has increased from 10% to 15%. The Asian population has remained relatively stable at around 14-15%. The Hispanic population has increased from 4% to 7% during this period.
Despite the increase in median income, the stable presence of LIHTC projects suggests an ongoing need for affordable housing options in this increasingly diverse community. The absence of new LIHTC developments in recent years may be attributed to the rising median income, which might have shifted focus away from low-income housing initiatives.
The LIHTC program has provided 90 units of affordable housing across two projects completed in 2003 in zip code 30033. While this represents a small percentage of the estimated housing inventory, it has provided a stable source of affordable housing for nearly two decades. The zip code has experienced population growth, significant income increases, and increasing racial diversity over the past decade. These demographic shifts, particularly the rising median income, may have influenced the lack of recent LIHTC developments. However, the continued presence of these projects underscores the enduring importance of affordable housing options in this evolving community.