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Affordable Housing Analysis in Zip Code 83858: Three Decades of LIHTC Development in Rathdrum, Idaho
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 83858 in Rathdrum, Idaho, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 146 total units in LIHTC-funded projects, with 128 designated as low-income units. Based on the 2022 population of 20,631 and an estimated 7,905 housing units, LIHTC-funded affordable housing comprises approximately 1.85% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 83858 have received $852,078 in project tax credits, averaging $5,836 per unit in federal funding. This represents 1.06% of Idaho's total LIHTC funding allocation, indicating a substantial investment in affordable housing for this area.
Affordable housing has been present in zip code 83858 for nearly three decades. The first LIHTC project, Pine Grove Village, was completed in 1992. The most recent addition, Park Wood Place II, was constructed in 2006. The early 2000s saw the most affordable housing development, with three projects completed between 2002 and 2004, including Timber Cove, Treehouse - Rathdrum, and Park Wood Place.
The LIHTC-funded housing in zip code 83858 offers a range of unit types, with 29 one-bedroom, 73 two-bedroom, and 17 three-bedroom units. This distribution accommodates various household sizes and needs within the low-income population.
Over the past decade, zip code 83858 has experienced significant population growth, increasing from 14,418 in 2013 to 20,631 in 2022. This 43% population increase suggests a growing demand for housing, including affordable options. Median income has also risen, from $59,689 in 2013 to $71,564 in 2022, a 20% increase that may impact affordable housing needs.
The racial composition of zip code 83858 has remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 86% in 2022, and a small increase in Hispanic residents from 4% to 7% during the same period. This demographic shift may indicate a growing need for culturally diverse affordable housing options.
Zip code 83858 has a modest LIHTC-funded affordable housing inventory, covering about 1.85% of the estimated housing stock. The area has seen consistent investment in affordable housing from 1992 to 2006, with the most development occurring in the early 2000s. Despite significant population growth and income increases over the past decade, no new LIHTC projects have been completed since 2006. This analysis highlights the need for ongoing assessment of affordable housing requirements in this rapidly growing area, considering changing demographics and economic conditions.
