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Affordable Housing Analysis in Zip Code 68516: LIHTC-Funded Projects in Lincoln, 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 68516 in Lincoln, Nebraska, contains a diverse LIHTC-funded affordable housing inventory. The area has 404 total units in LIHTC-funded projects, with 58 specifically designated as low-income units. Based on the 2022 population of 47,919 and an estimated 18,360 housing units, the LIHTC-funded affordable housing comprises approximately 2.2% of the zip code's estimated housing inventory.
The LIHTC program has invested $780,829 in project tax credits for affordable housing in this zip code, averaging about $1,933 per LIHTC-funded unit. This zip code holds 0.66% of Nebraska's total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code since at least 2001, with the completion of Summer Hill I. The most recent project, Prairie Crossing Apartments & Townhomes, was completed in 2008. This seven-year span demonstrates a sustained effort to provide affordable housing options in the area.
The 2000s saw the most affordable housing development activity, with all three known projects completed during this decade. The Lodge, completed in 2006, is notable for providing 324 total units, the largest project in the area. The inventory includes a mix of unit types, with at least 4 three-bedroom units available. This suggests some accommodation for families or larger households within the affordable housing stock.
Over the past decade, the zip code has experienced steady population growth, increasing from 39,894 in 2013 to 47,919 in 2022. Median income has also risen, from $88,477 in 2013 to $91,857 in 2022, with a peak of $100,762 in 2021. This overall economic growth may have influenced the lack of new LIHTC projects in recent years.
The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 87% in 2022, and small increases in Asian, Black, and multiracial populations. This gradual diversification could potentially impact future affordable housing needs.
Zip code 68516 in Lincoln, Nebraska, has a modest LIHTC-funded affordable housing inventory, covering about 2.2% of the estimated housing stock. The area saw significant affordable housing development in the 2000s, with three projects completed between 2001 and 2008. While the population and median income have grown over the past decade, there have not been new LIHTC projects in recent years. The existing inventory provides a mix of unit types, potentially serving diverse household sizes. As the area continues to grow and diversify, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.
