Loading Content...
Affordable Housing Analysis in Zip Code 30188: Three Decades of LIHTC Projects in Woodstock, Georgia
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 30188, located in Woodstock, Georgia, contains 214 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 141 designated as low-income units. This represents approximately 0.86% of the total housing inventory in this zip code, based on the 2022 population of 64,984 and an estimated 24,898 housing units.
The LIHTC projects in zip code 30188 have received $586,488 in tax credits, averaging $2,741 per unit. This funding constitutes 0.17% of Georgia's total LIHTC allocation, indicating a small but notable investment in affordable housing for this area.
Affordable housing has been present in zip code 30188 for over 30 years. The initial LIHTC project, Whispering Trace Apartments, was completed in 1990, while the most recent, Alta Ridge Walk, was finished in 2004. The early 2000s saw the highest activity in affordable housing development, with three out of four projects completed during this period.
The LIHTC-funded projects in zip code 30188 offer a variety of unit types, including 95 two-bedroom units and 42 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, zip code 30188 has experienced consistent population growth, increasing from 53,087 in 2013 to 64,984 in 2022. The median income has also risen, from $82,404 in 2013 to $88,802 in 2022, indicating an overall improvement in economic conditions.
The racial composition of zip code 30188 has remained relatively stable, with a slight decrease in the white population from 80% in 2013 to 74% in 2022. There has been a small increase in diversity, with slight growth in Asian, Black, and Hispanic populations.
Despite the population growth and rising median income, no new LIHTC projects have been completed in zip code 30188 in the last decade. This may be due to the area's relatively high median income, which could reduce the perceived need for additional affordable housing units.
Zip code 30188 has a modest LIHTC-funded affordable housing inventory, representing a small fraction of its total housing stock. The area has seen consistent population growth and rising median incomes over the past decade, which may have influenced the lack of new LIHTC projects since 2004. While the existing affordable housing units contribute to the area's diversity, the relatively low percentage of LIHTC-funded units compared to the total housing stock suggests there may be opportunities for further affordable housing development to meet the needs of the growing population.
