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Affordable Housing Analysis in ZIP Code 68662: Shelby's Stable LIHTC Presence
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 68662, located in Shelby, Nebraska, contains 12 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. The estimated housing inventory for this ZIP code, based on the 2022 population of 747 and the national average household size, is approximately 286 units. The LIHTC funded affordable housing covers about 4.2% of the estimated housing inventory in this ZIP code.
The LIHTC program has provided $80,519 in tax credits for affordable housing projects in this ZIP code. With 12 total units funded, this translates to an average federal funding of approximately $6,710 per unit. This ZIP code accounts for 0.07% of the total LIHTC funding allocated to Nebraska.
The single LIHTC project in this ZIP code, Osceola-Shelby Housing I, was completed in 2000, indicating that affordable housing has been present in the area for over two decades. The project consists of 8 two-bedroom units and 4 three-bedroom units, providing a mix of housing options for low-income residents.
Over the past decade, the population in this ZIP code has remained relatively stable, with minor fluctuations. The population decreased slightly from 752 in 2010 to 747 in 2022. Median income has shown an overall increase, rising from $53,830 in 2013 to $68,399 in 2022, with some fluctuations in between.
Racial demographics have seen slight changes, with the white population decreasing from 94% in 2013 to 88% in 2022. The Hispanic population has increased from 5% to 8% during the same period. The percentage of residents identifying as two or more races has also increased from 0% to 4% between 2015 and 2022.
Despite these demographic shifts, no new LIHTC projects have been built in the last decade. This could be due to the relatively stable population and increasing median income, which may indicate a reduced need for additional low-income housing in the area.
The ZIP code 68662 in Shelby, Nebraska, has a single LIHTC-funded affordable housing project that provides 12 low-income units, covering about 4.2% of the estimated housing inventory. The project, completed in 2000, offers a mix of two and three-bedroom units. While demographic trends show a stable population and increasing median income over the past decade, there has been a slight increase in racial diversity. The lack of new LIHTC projects in recent years may be attributed to these demographic trends, suggesting a potentially reduced need for additional low-income housing in the area.
