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Affordable Housing Analysis in Zip Code 80241: LIHTC-Funded Senior Housing Project in Thornton, Colorado
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 80241 in Thornton, Colorado, contains 72 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income. Based on the 2022 population of 34,371 and an estimated 13,169 housing units, the LIHTC-funded affordable housing comprises approximately 0.55% of the zip code's estimated housing inventory.
The LIHTC program has invested $961,517 in tax credits for affordable housing projects in zip code 80241. This equates to an average federal funding of $13,354 per unit. Zip code 80241 accounts for 0.22% of Colorado's total LIHTC funding allocation.
The sole LIHTC-funded project in zip code 80241 is the Innovage Senior Housing Thornton, completed in 2014. This development has been providing affordable housing options for nearly a decade. It consists of 72 units, including 5 one-bedroom and 22 two-bedroom apartments, serving diverse household sizes within the senior population.
Zip code 80241 has experienced population fluctuations over the past decade, with an overall upward trend from 30,233 in 2010 to 34,371 in 2022. The median income has increased from $88,854 in 2013 to $98,344 in 2022, indicating economic growth in the area.
Racial demographics in zip code 80241 have shifted. The white population decreased from 73% in 2013 to 63% in 2022. The Hispanic population increased from 18% to 25%, with slight increases in Asian and Black populations. This growing diversity may influence future affordable housing needs.
The completion of the Innovage Senior Housing Thornton project in 2014 coincides with a period of population growth and increasing median income in zip code 80241. This suggests the project was developed in response to growing housing needs, particularly for the senior population, during a time of economic expansion.
Zip code 80241 in Thornton has a modest LIHTC-funded affordable housing presence, with one project dedicated to senior housing. The affordable units represent a small percentage of the estimated housing inventory but provide crucial low-income housing options for seniors. The area has experienced population growth, increasing median income, and growing racial diversity over the past decade. These demographic shifts may influence future affordable housing needs and development in zip code 80241.
