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Affordable Housing Analysis in Zip Code 80498: Two Decades of LIHTC Development in Silverthorne, 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 80498, located in Silverthorne, Colorado, contains 203 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 6% of the zip code's estimated 3,396 housing units, based on the 2022 population of 8,864.
The LIHTC projects in zip code 80498 have received $1,174,762 in project tax credits, averaging about $5,787 per unit. This zip code accounts for 0.27% of the total state LIHTC funding, indicating a significant investment in local affordable housing.
Affordable housing has been present in zip code 80498 since 1994, with the completion of Blue River Apartments and Villa Sierra Madre. The most recent project, Villa Sierra Madre II, was completed in 2014, spanning two decades of development. The 1990s saw the most affordable housing projects completed in this area.
The affordable housing inventory in zip code 80498 consists of 17 one-bedroom units, 98 two-bedroom units, and 52 three-bedroom units. This distribution accommodates households of various sizes.
Over the past decade, the population in zip code 80498 has fluctuated, peaking at 9,775 in 2015 and reaching 8,864 in 2022. The median income has ranged from approximately $80,000 to $95,000. The racial distribution has remained relatively stable, with the white population consistently representing about 70-73% of the total, and the Hispanic population around 18-25%.
The completion of Villa Sierra Madre II in 2014 coincides with a period of population growth and relatively high median incomes in the area, suggesting a proactive approach to maintaining affordable housing options during economic prosperity.
Zip code 80498 demonstrates a consistent commitment to affordable housing through LIHTC funded projects. With 203 low-income units representing about 6% of the estimated housing inventory, these developments play a significant role in the area's housing landscape. The mix of unit sizes and the span of project completions over two decades indicate an ongoing effort to meet diverse housing needs. The LIHTC projects represent a substantial investment in maintaining housing accessibility in this Colorado community.
