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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pueblo West, Colorado, zip code 81007, is a census-designated place located in Pueblo County. This area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 139 total units, with 134 of these designated as low-income units. Based on the 2022 population of 33,649 and an estimated 12,892 housing units, the LIHTC funded affordable housing covers approximately 1.08% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $381,632 in project tax credits, averaging about $2,745 per unit. This funding represents 0.09% of Colorado's total LIHTC allocation, indicating a relatively small but notable investment in affordable housing for this area.
Affordable housing has been present in this zip code for over two decades, with the first LIHTC project, Clarion Place Apts, completed in 1999, and the most recent, Pueblo West Gardens II, finished in 2014. The 2010s saw the most affordable housing development, with two projects completed during this decade: Pueblo West Gardens I in 2010 and Pueblo West Gardens II in 2014.
The LIHTC funded housing inventory in this zip code includes a diverse mix of unit types. There are 35 efficiencies, 14 two-bedroom units, 57 three-bedroom units, and 8 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on larger families given the high number of three-bedroom units.
Over the past decade, the population of this zip code has grown steadily, increasing from 29,549 in 2013 to 33,649 in 2022. This 13.9% population growth may have contributed to the need for additional affordable housing, as evidenced by the completion of Pueblo West Gardens II in 2014.
Median income in the area has fluctuated but shown an overall upward trend, rising from $71,724 in 2013 to $73,619 in 2022. Despite this increase, the continued presence of LIHTC projects suggests an ongoing need for affordable housing options.
The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population (from 73% in 2013 to 63% in 2022) and an increase in the Hispanic population (from 23% in 2013 to 32% in 2022). This demographic shift may influence future affordable housing needs and development strategies.
The 81007 zip code area has a modest but significant LIHTC funded affordable housing inventory, covering just over 1% of its estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with the most recent developments occurring in the 2010s. The diverse unit mix suggests an effort to accommodate various household sizes. While the area has experienced population growth and a slight increase in median income, the continued presence of LIHTC projects indicates an ongoing need for affordable housing options. The changing racial demographics may also influence future affordable housing strategies in this zip code.