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Affordable Housing Analysis in Zip Code 67226: Three Decades of LIHTC Projects in Wichita, Kansas
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 67226 in Wichita, Kansas, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 529 total units in LIHTC-funded projects, with 360 designated as low-income units. Based on the 2022 population of 20,113 and the national average household size, the estimated housing inventory for this zip code is approximately 7,706 units. LIHTC-funded affordable housing represents about 6.9% of the estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC projects in zip code 67226 have received $2,031,029 in tax credits, averaging approximately $3,839 per unit in federal funding. This zip code holds 1.42% of the total state LIHTC funding, suggesting a moderate concentration of affordable housing investment in this area relative to the rest of Kansas.
Affordable housing has been a consistent feature of this zip code since 1988, when the first LIHTC project, Cross Creek Apart I, was completed. The most recent addition, Rushpointe II, was completed in 2019, demonstrating over three decades of affordable housing development. The 1980s and early 1990s saw significant affordable housing growth, with five Cross Creek projects completed between 1988 and 1992. The 2010s also experienced notable development, with four projects completed during this decade.
The LIHTC-funded housing in zip code 67226 offers a diverse range of unit types. Out of the 529 total units, there are 40 efficiencies, 24 one-bedroom units, 206 two-bedroom units, and 143 three-bedroom units. This distribution indicates a focus on accommodating various household sizes, with a particular emphasis on two-bedroom units.
Over the past decade, zip code 67226 has experienced steady population growth, increasing from 16,853 in 2013 to 20,113 in 2022. The median income has fluctuated, peaking at $90,901 in 2021 before decreasing to $76,445 in 2022. Despite these income variations, the continued development of LIHTC projects suggests an ongoing need for affordable housing in the area.
The racial composition of zip code 67226 has remained relatively stable, with a slight decrease in the white population from 77% in 2013 to 72% in 2022. There has been a small increase in diversity, with slight growth in the Black, Hispanic, and multi-racial populations. This gradual diversification may have influenced the continued investment in affordable housing to ensure housing options for all community members.
Zip code 67226 in Wichita, Kansas, demonstrates a consistent commitment to affordable housing through LIHTC-funded projects. With 529 total units, including 360 low-income units, these projects constitute a significant portion of the area's housing inventory. The long-term presence of affordable housing, spanning from 1988 to 2019, reflects ongoing efforts to meet community needs. The diverse unit types cater to various household sizes, while the continued development of LIHTC projects aligns with the area's population growth and evolving demographics. This sustained investment in affordable housing contributes to maintaining housing accessibility in a zip code that has experienced both population growth and income fluctuations over the past decade.
