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Affordable Housing Analysis in Zip Code 50131: LIHTC Projects and Demographic Shifts
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 50131 in Johnston, Iowa, has experienced significant population growth, reaching 23,930 residents in 2022. This area contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 93 total units, with 86 designated as low-income units. These LIHTC units represent approximately 1% of the estimated 9,169 housing units in the zip code.
The LIHTC projects in zip code 50131 have received $2,454,726 in tax credits, averaging $26,394 per unit. This funding constitutes 1.16% of Iowa's total LIHTC allocation, indicating a moderate investment in affordable housing for this area. Affordable housing has been present in this zip code since at least 2011, with the completion of the Cottages At Johnston Commons project. The most recent known project, Cornerstone Commons, was completed in 2013.
The LIHTC funded housing in this zip code primarily consists of one and two-bedroom units, with 31 one-bedroom and 62 two-bedroom units. This distribution suggests a focus on accommodating small families and individuals in need of affordable housing options.
Over the past decade, zip code 50131 has experienced substantial population growth, increasing from 16,416 in 2010 to 23,930 in 2022. The median income has remained consistently high, around $110,000 throughout this period. Despite the area's overall affluence, the presence of LIHTC projects indicates recognition of the need for affordable housing options within the community.
The racial composition of zip code 50131 has become more diverse over the past decade. The white population remains the majority, but there has been a noticeable increase in Asian, Black, and Hispanic residents. The percentage of white residents decreased from 91% in 2013 to 78% in 2022, while the Black population increased from less than 1% to 10% during the same period. This demographic shift may influence future affordable housing needs and development in the area.
The LIHTC funded affordable housing in zip code 50131 represents a small but significant portion of the overall housing inventory. With 93 total units and $2,454,726 in tax credits invested, these projects contribute to addressing affordable housing needs in an area characterized by high median incomes and increasing diversity. The focus on one and two-bedroom units aligns with the needs of small families and individuals. As the population continues to grow and diversify, ongoing assessment of affordable housing needs will be crucial to ensure adequate options for all residents.
