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Affordable Housing Analysis in Zip Code 68465: LIHTC Funded Units in Wilber, Nebraska
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 68465, located in Wilber, Nebraska, possesses a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 20 total affordable housing units, all designated as low-income units. These units comprise approximately 3.8% of the estimated 526 housing units in the zip code, based on the 2022 population of 1,372 and the national average household size.
The LIHTC program has invested $28,857 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $1,443 per unit. Zip code 68465 accounts for 0.02% of the total LIHTC funding allocated to Nebraska.
Affordable housing has been present in this zip code since 1988, with the completion of the Wilbur Family Housing project. The most recent project, Wolverine Apts, was completed in 1994. This six-year span represents the period of LIHTC-funded affordable housing development in the area. The 1980s and 1990s were the decades with the most affordable housing projects completed in this zip code.
Over the past decade, the population in zip code 68465 has fluctuated, with a slight overall decrease from 1,403 in 2013 to 1,372 in 2022. The median income has shown a general upward trend, increasing from $53,252 in 2013 to $66,373 in 2022.
Regarding racial demographics, zip code 68465 has experienced some changes. The white population decreased from 87% in 2013 to 72% in 2022. Conversely, the Hispanic population increased from 10% to 23% during the same period. The Asian population remained relatively stable, ranging between 1-4% throughout the decade.
The LIHTC program has contributed to the affordable housing inventory in zip code 68465, providing 20 low-income units. These units represent a small percentage of the estimated housing stock but play a role in addressing affordable housing needs. The demographic shifts observed over the past decade, including income growth and increased racial diversity, may influence future affordable housing needs in the area.
