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Affordable Housing Analysis in Zip Code 50021: LIHTC Funded Projects in Ankeny, Iowa
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 50021, located in Ankeny, Iowa, contains 350 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 293 designated as low-income units. Based on the 2022 population of 23,666 and the national average household size, the estimated housing inventory for this zip code is approximately 9,067 units. The LIHTC-funded affordable housing represents about 3.86% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 50021 have received $2,040,128 in project tax credits, averaging about $5,829 in federal funding per unit. This zip code holds 0.97% of Iowa's total LIHTC funding, indicating a significant investment in affordable housing for the area.
Affordable housing has been present in this zip code for over two decades. The first LIHTC project, Ashbrooke Apts Phase I, was completed in 1991, while the most recent, Fletcher Estates, was finished in 2012. The 1990s saw the most affordable housing activity, with five out of six projects completed during this decade.
The LIHTC-funded projects in zip code 50021 offer a variety of unit types, including 17 one-bedroom, 74 two-bedroom, and 24 three-bedroom units. This diversity caters to different household sizes and needs within the low-income population.
Over the last decade, zip code 50021 has experienced population growth, increasing from 18,590 in 2010 to 23,666 in 2022. The median income has also risen, from $79,148 in 2013 to $83,041 in 2022, suggesting overall economic improvement in the area.
Racial diversity has slightly increased in zip code 50021, with the white population decreasing from 95% in 2013 to 88% in 2022. The Hispanic population has grown from 1% to 5%, and the Asian and Black populations have each increased to 3% and 2% respectively. This gradual diversification may indicate a need for culturally sensitive affordable housing options.
Despite the population growth and increasing median income, no new LIHTC projects have been completed in zip code 50021 since 2012. This could suggest that other affordable housing programs may be addressing the needs of the low-income population, or that the existing LIHTC units are sufficiently meeting the current demand.
Zip code 50021 has an established foundation of LIHTC-funded affordable housing, with projects dating back to 1991. While the 350 total units represent a small percentage of the estimated housing inventory, they provide crucial support for low-income residents. The area has seen steady population growth and income increases over the past decade, along with gradual racial diversification. These demographic shifts may influence future affordable housing needs and development in the zip code.
