Loading Content...
Affordable Housing Analysis in Zip Code 80014: A Two-Decade LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 80014 in Aurora, Colorado exhibits a diverse affordable housing inventory funded through the Low-Income Housing Tax Credit (LIHTC) program. The area contains 286 total units in LIHTC-funded projects, with 185 of these designated as low-income units. Based on the 2022 population of 38,919 and an estimated 14,911 housing units, the LIHTC-funded affordable housing comprises approximately 1.9% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $1,539,926 in tax credits, averaging about $5,384 per unit. This funding represents 0.35% of Colorado's total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been present in this zip code for nearly two decades. The first LIHTC project, Asbury Park Apartments, was completed in 2003, while the most recent, Nine Mile, was finished in 2020. The 2010s experienced the most activity, with two projects completed during this decade: Sable Ridge Apartments in 2018 and Nine Mile in 2020.
The LIHTC-funded housing in this zip code offers a mix of unit types, with a focus on one and two-bedroom apartments. There are 108 one-bedroom units, 155 two-bedroom units, and 23 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the zip code has experienced modest population growth, increasing from 35,595 in 2013 to 38,919 in 2022. During this period, the median income rose from $55,446 in 2013 to $69,318 in 2022, indicating improving economic conditions. The racial composition has remained relatively stable, with a slight decrease in the white population (from 65% to 60%) and small increases in Asian, Black, and Hispanic populations.
The completion of two LIHTC projects in 2018 and 2020 aligns with the area's population growth and increasing median income, suggesting a response to the growing need for affordable housing options in an improving economic environment.
Zip code 80014 in Aurora, Colorado has a modest but growing LIHTC-funded affordable housing inventory, representing about 1.9% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly two decades, with recent projects coinciding with population growth and rising median incomes. The mix of unit types suggests an effort to accommodate diverse household needs within the low-income population. The LIHTC program has made a significant contribution to the affordable housing landscape in this zip code.
