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Affordable Housing Analysis in Zip Code 83340: Ketchum's Northwood Place
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 83340, located in Ketchum, Idaho, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This area has 32 affordable housing units, with 31 designated as low-income units. Based on the 2022 population of 4,132 and using the national average household size, there are approximately 1,583 housing units in this zip code. The LIHTC-funded affordable housing comprises about 2% of the estimated housing inventory in this area.
The LIHTC program has provided $100 in tax credits for affordable housing in zip code 83340. This amount equates to an average federal funding of $3.13 per unit when divided by the total number of units in LIHTC-funded projects. Northwood Place, completed in 2010, is the only LIHTC-funded project in this zip code. This project represents the introduction of LIHTC-funded affordable housing in the area, providing a decade-long presence of this type of housing support.
Northwood Place offers a variety of housing options. It includes 12 one-bedroom units, 14 two-bedroom units, and 6 three-bedroom units. This range of unit sizes can accommodate various household compositions, from individuals to small families.
Zip code 83340 has experienced demographic changes over the past decade. The population has increased from 3,549 in 2020 to 4,132 in 2022, indicating a rising demand for housing. Median income has also risen, from $78,264 in 2020 to $81,313 in 2022, suggesting a potential need for affordable housing options to support lower-income residents in an area with increasing costs.
The racial distribution has remained relatively stable, with the white population consistently representing the majority. There has been a slight increase in diversity, with small percentages of Asian, Black, and multiracial residents appearing in recent years.
Zip code 83340 in Ketchum, Idaho, has one LIHTC-funded affordable housing project, Northwood Place, which has provided 32 units of affordable housing since 2010. This represents a small percentage of the estimated housing inventory but offers a mix of unit sizes to accommodate various household needs. The area has experienced population growth and increasing median income over the past decade, potentially indicating an ongoing need for affordable housing options. The LIHTC program has contributed to addressing this need, though its impact should be considered alongside other potential housing assistance programs in the area.
