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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 83702 in Boise City, Idaho, contains a substantial inventory of LIHTC-funded affordable housing. The area has 760 total units in LIHTC-funded projects, with 620 designated as low-income units. This affordable housing stock represents approximately 8.7% of the estimated 8,724 housing units in the zip code. The LIHTC projects in this area have received $5,200,275 in project tax credits, averaging about $6,842 per unit in federal funding. Zip code 83702 accounts for 6.44% of Idaho's total LIHTC funding, indicating a significant concentration of affordable housing investment in this location.
Affordable housing has been present in zip code 83702 for nearly three decades. The initial LIHTC projects, Davis Park and Parkhill Apts, were completed in 1991. The most recent project, New Path Community Housing, was finished in 2018. The 1990s experienced the highest number of affordable housing project completions, with five projects finalized during that decade. The LIHTC-funded housing in this zip code offers a range of unit types, including 42 efficiencies, 379 one-bedroom units, 197 two-bedroom units, 41 three-bedroom units, and 2 four-bedroom units. This distribution indicates a focus on smaller households, with a predominance of one and two-bedroom units.
A notable project in zip code 83702 is 12Th And River Street Housing, completed in 2012, which specifically targets senior residents. This project addresses the distinct housing needs of the older population in the area. Over the past decade, the population in this zip code has experienced moderate growth, increasing from 21,535 in 2010 to 22,770 in 2022. The median income has also risen, from $61,870 in 2013 to $75,930 in 2022, suggesting improving economic conditions for residents.
The racial composition of zip code 83702 has remained relatively stable, with a slight decrease in the white population from 87% in 2013 to 86% in 2022. There has been a minor increase in diversity, with the Hispanic population growing from 5% to 7% and the Asian population from 1% to 2% during this period. Despite the improving economic conditions, the completion of New Path Community Housing in 2018 suggests an ongoing need for affordable housing in the area.
In summary, zip code 83702 in Boise City has a significant LIHTC-funded affordable housing presence, covering about 8.7% of the estimated housing inventory. The area has experienced consistent development of affordable housing projects over nearly three decades, with a diverse range of unit types available. While economic indicators have improved over the last decade, the recent completion of affordable housing projects indicates an ongoing commitment to meeting the housing needs of low-income residents in this community.