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Affordable Housing Analysis in Zip Code 48879: LIHTC Contribution and Demographic Trends in St. Johns, Michigan
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 48879 in St. Johns, Michigan, has a population of 19,023 as of 2022 and covers an area of 193.29 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 24 affordable housing units in this zip code, all of which are designated as low-income units. Based on the estimated housing inventory of 7,289 units, LIHTC-funded affordable housing accounts for approximately 0.33% of the total housing stock in this zip code.
The LIHTC program has allocated $360,254 in tax credits for affordable housing projects in this zip code, representing 0.12% of the state's total LIHTC funding. This translates to an average federal funding of $15,011 per unit. The only LIHTC-funded project in this zip code is Castle St. Johns, completed in 2017. This project consists of 24 units, including 3 two-bedroom units.
Over the past decade, the zip code's population has remained relatively stable, with a slight increase from 19,015 in 2010 to 19,023 in 2022. The median income has shown a significant upward trend, rising from $55,228 in 2013 to $70,548 in 2022, representing a 27.7% increase. The racial composition of the zip code has remained predominantly white, consistently above 90% throughout the decade, with small percentages of other racial groups.
The completion of the Castle St. Johns project in 2017 coincides with a period of rising median income in the area. This suggests that despite the overall income growth, there was still a recognized need for affordable housing options in the community.
The LIHTC program has made a modest contribution to the affordable housing inventory in zip code 48879, with one project providing 24 low-income units. While this represents a small percentage of the estimated total housing stock, it demonstrates an effort to address affordable housing needs in the area. The stable population and increasing median income over the past decade provide context for the timing of the LIHTC project's completion in 2017.
