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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 52068, located in Peosta, Iowa, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 24 total units, all designated as low-income units. This zip code encompasses 45.35 square miles and had a population of 4,136 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 1,585 units. The LIHTC funded affordable housing represents about 1.51% of the estimated housing units in the zip code.
The LIHTC program has invested $264,000 in project tax credits for affordable housing in zip code 52068. This equates to an average federal funding of $11,000 per unit. This zip code accounts for 0.13% of the total LIHTC funding allocated to the state of Iowa. The affordable housing inventory in this zip code consists of a single project, Evergreen Meadows Apartments, completed in 2004. This project has provided affordable housing options in the area for nearly two decades.
The Evergreen Meadows Apartments project comprises 24 units, offering a mix of housing options. It includes 1 two-bedroom unit, 11 three-bedroom units, and 3 four-bedroom units, accommodating various family sizes and needs.
The population in zip code 52068 has shown steady growth over the past decade, increasing from 3,765 in 2013 to 4,136 in 2022. The median income has generally trended upward, rising from $81,087 in 2013 to $95,830 in 2022. This increase in median income may indicate a growing need for affordable housing options to maintain economic diversity in the area.
The racial composition of zip code 52068 has remained relatively stable, with the white population consistently representing the majority at around 94% in recent years. There has been a slight increase in diversity, with small increases in the Black, Hispanic, and multi-racial populations. This gradual shift in demographics could potentially influence future affordable housing needs.
The LIHTC program has made a modest contribution to the affordable housing inventory in zip code 52068, with 24 low-income units provided through a single project completed in 2004. This represents a small percentage of the estimated housing stock but provides essential housing options for low-income residents in the area. The steady population growth and increasing median income over the past decade suggest a potential ongoing need for affordable housing in this zip code. Monitoring these demographic trends will be crucial in assessing and addressing future affordable housing requirements in zip code 52068.