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Affordable Housing Analysis in Zip Code 30152: LIHTC Developments 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 30152 in Kennesaw, Georgia, has a population of 45,736 as of 2022 and covers an area of 22.62 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 260 affordable housing units in this zip code, with 234 of these specifically designated as low-income units. Based on the estimated 17,523 housing units in the zip code, the LIHTC-funded affordable housing covers approximately 1.48% of the total housing inventory.
The LIHTC projects in this zip code have received $1,845,887 in tax credits, averaging about $7,099 per unit. This funding represents 0.55% of the total LIHTC credits allocated to Georgia. All three LIHTC projects in the zip code were completed in 2005, indicating a concentrated period of affordable housing development. These projects are Walton Ridenour Apartments, Alta Ridenour Sr Apartments, and Lakeside Vista Apartments.
The housing inventory consists of 38 one-bedroom units, 166 two-bedroom units, and 56 three-bedroom units, demonstrating a focus on accommodating various household sizes, with a majority being two-bedroom apartments.
Over the past decade, the zip code's population has remained relatively stable, with a slight increase from 43,984 in 2017 to 45,736 in 2022. The median income has shown an upward trend, rising from $104,769 in 2017 to $111,318 in 2022. This increase in median income might suggest a reduced need for additional affordable housing in recent years.
Racial demographics have remained fairly consistent, with a slight increase in diversity. The white population decreased marginally from 66% in 2017 to 64% in 2021, before returning to 66% in 2022. The Black population increased slightly from 15% to 16%, while the Asian population grew from 4% to 6% during this period. The Hispanic population has remained stable at around 7-9%.
The LIHTC program has contributed to the affordable housing stock in zip code 30152, providing 260 units, primarily constructed in 2005. While this represents a small percentage of the total estimated housing inventory, it is important to note that other affordable housing programs may also be present in the area. The zip code has experienced stable population growth and increasing median income over the past decade, which may influence the current demand for affordable housing. The racial composition has shown a slight trend towards increased diversity, which could be a factor in future housing needs and policies.
