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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 51239, located in Hull, Iowa, has a population of 3,771 as of 2022. This area features a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 12 total affordable units, all designated as low-income units. Based on the estimated 1,445 housing units in the zip code, LIHTC funded affordable housing represents approximately 0.83% of the total housing inventory.
The LIHTC program has invested $203,886 in tax credits for affordable housing projects in zip code 51239. This equates to an average federal funding of $16,990 per unit. Notably, this zip code accounts for 0.1% of the total state LIHTC funding.
The affordable housing landscape in zip code 51239 is represented by a single project, Goldfinch Grove, completed in 2016. This project marks the inception of LIHTC-funded affordable housing in the area, indicating a relatively recent focus on affordable housing development.
Goldfinch Grove offers a mix of unit types, with 2 two-bedroom units, 6 three-bedroom units, and 4 four-bedroom units. This distribution suggests an emphasis on accommodating families of various sizes within the affordable housing framework.
Over the past decade, zip code 51239 has experienced population fluctuations, with a general upward trend from 3,175 in 2010 to 3,771 in 2022. The median income has also shown significant growth, increasing from $64,676 in 2013 to $76,332 in 2022, indicating an overall improvement in economic conditions.
The racial composition of zip code 51239 has remained predominantly white, with a slight decrease from 93% in 2019 to 89% in 2022. There has been a modest increase in Hispanic population, from 5% in 2019 to 9% in 2022, suggesting a gradual diversification of the community.
The completion of Goldfinch Grove in 2016 coincides with a period of population growth and rising median incomes in zip code 51239. This timing may reflect a response to increasing housing needs and changing demographics in the community.
Zip code 51239 has a small but significant LIHTC-funded affordable housing presence, represented by the Goldfinch Grove project. While the affordable housing inventory covers less than 1% of the estimated housing units, it provides essential low-income housing options in an area that has seen population growth and increasing median incomes over the past decade. The project's mix of unit sizes suggests an effort to accommodate diverse family needs within the affordable housing framework. As the community continues to evolve demographically and economically, ongoing assessment of affordable housing needs will be crucial for maintaining a balanced housing market in zip code 51239.