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Affordable Housing Analysis in Zip Code 46368: A Three-Decade Commitment
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 46368 in Portage, Indiana has a population of 38,444 as of 2022, with an estimated housing inventory of 14,730 units. This area has 456 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing across 4 projects, of which 276 are designated as low-income units. The LIHTC funded affordable housing represents 3.1% of the estimated housing inventory in this zip code.
LIHTC funded affordable housing has been present in zip code 46368 since 1990, with the completion of Port Crossing Apts I. The most recent project, Port Crossing Apts III, was completed in 1996, indicating that affordable housing development through LIHTC occurred over a 6-year period in this area. All four LIHTC projects were built during the 1990s.
The inventory of LIHTC funded units in zip code 46368 includes 135 one-bedroom units, 164 two-bedroom units, and 41 three-bedroom units. This distribution accommodates various household sizes, from individuals to small families.
The population in zip code 46368 has increased gradually over the past decade, growing from 37,143 in 2013 to 38,444 in 2022. The median income has fluctuated, increasing from $66,974 in 2020 to $74,626 in 2021, before decreasing to $66,295 in 2022.
Racial demographics in zip code 46368 have remained relatively stable, with a slight decrease in the white population from 74% in 2013 to 69% in 2022. The Hispanic population has increased from 17% to 19% during the same period. The black population has remained steady at around 7-8%.
No new LIHTC projects have been recorded in zip code 46368 in the last decade. However, demographic trends suggest a continued need for affordable housing. The fluctuations in median income, coupled with a growing population and increasing diversity, indicate that the existing LIHTC units likely continue to play an important role in providing affordable housing options for the community.
Zip code 46368 in Portage, Indiana has a modest inventory of LIHTC funded affordable housing, with 456 total units across 4 projects. These units, developed in the 1990s, represent about 3.1% of the estimated housing inventory. While no new LIHTC projects have been recorded recently, the area's demographic trends, including population growth and income fluctuations, suggest an ongoing need for affordable housing options. The existing LIHTC units, with their mix of one-, two-, and three-bedroom configurations, continue to contribute to the area's affordable housing landscape.
