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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 83341, located in Kimberly, Idaho, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 24 low-income units. These units are part of a single LIHTC project in the area. Based on the 2022 population of 8,837 and using the national average household size, the estimated housing inventory for this zip code is approximately 3,386 units. The LIHTC funded affordable housing covers about 0.71% of the estimated housing units in the zip code.
The LIHTC project in this zip code received $75,152 in tax credits, averaging $3,131 per unit. This funding represents 0.09% of Idaho's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing efforts concentrated in this area. The sole LIHTC project in the zip code, Kimberly Sunset, was completed in 2006. This project has been providing affordable housing in the area for over 15 years. All 24 units in the project are one-bedroom apartments, suggesting a focus on smaller households or individuals.
Over the past decade, zip code 83341 has experienced significant population growth, increasing from 6,486 in 2014 to 8,837 in 2022, a 36% rise. Median income has also grown substantially, from $64,692 in 2014 to $79,060 in 2022, representing a 22% increase. The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 90% in 2014 to 78% in 2022. The Hispanic population has increased from 9% to 19% during the same period. This demographic shift might indicate a growing need for diverse affordable housing options.
Despite the population growth and changing demographics, no new LIHTC projects have been developed in the last decade. This could be due to the rising median income, which might suggest a decreased need for low-income housing. However, the significant population growth could potentially create new demands for affordable housing that are not currently being met through the LIHTC program.
Zip code 83341 has a single LIHTC project providing 24 one-bedroom affordable housing units, completed in 2006. While this project represents a small portion of the area's estimated housing inventory, it has been a consistent source of affordable housing for over 15 years. The zip code has experienced substantial population growth and income increases over the past decade, along with a shift in racial demographics. These changes may warrant a reassessment of affordable housing needs in the area, particularly considering the lack of new LIHTC developments since 2006.