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Affordable Housing Analysis in Zip Code 80239: LIHTC Investments and Demographic Shifts
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 80239 in Denver, Colorado, contains a diverse community with a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. As of 2022, this area has 146 total units in LIHTC-funded projects, with 129 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 0.83% of the zip code's estimated housing stock of 17,562 units.
The LIHTC projects in zip code 80239 have received $7,519,365 in tax credits, averaging about $51,502 per unit in federal funding. This zip code accounts for 1.71% of Colorado's total LIHTC funding, indicating a significant investment in affordable housing for the area.
Affordable housing has been present in zip code 80239 for nearly two decades. The first project, Sable Ridge Residences, was completed in 2003, and the most recent, Meadows At Montbello, was finished in 2017. The 2010s saw the most affordable housing development activity in this area.
The LIHTC-funded projects in zip code 80239 offer various unit types to accommodate different household sizes. There are 43 one-bedroom units, 85 two-bedroom units, and 18 three-bedroom units. This distribution suggests a focus on housing for small to medium-sized families.
Over the past decade, zip code 80239 has experienced significant demographic changes. The population grew from 36,462 in 2010 to 45,838 in 2022, indicating a rising demand for housing. Median income increased from $58,377 in 2013 to $73,403 in 2022, which may affect the need for affordable housing.
Racial demographics in zip code 80239 have shifted slightly. The Hispanic population increased from 56% in 2013 to 63% in 2022, while the Black population decreased from 24% to 18%. The White population also saw a slight decrease from 14% to 13%. These changes may influence the community's housing needs and the types of affordable housing projects that would best serve the area.
Zip code 80239 in Denver has a modest LIHTC-funded affordable housing inventory that has developed over nearly two decades. The current inventory covers less than 1% of the estimated housing stock but represents a significant investment in the community. The area has experienced population growth and increased median income, alongside shifts in racial demographics. These factors may influence future affordable housing needs and development in zip code 80239.
