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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 85323 in Avondale, Arizona, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 599 total units in LIHTC-funded projects, with 467 of these designated as low-income units. Based on the 2022 population of 44,948 and an estimated 17,221 housing units, the LIHTC-funded affordable housing comprises approximately 3.48% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $3,638,550 in project tax credits, averaging about $6,074 per unit in federal funding. This zip code holds 1.77% of Arizona's total LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been present in this zip code for at least 25 years, with the first LIHTC project, Parkside Group Apts, completed in 1993, and the most recent, Bridgewater At Avondale Assisted Living, finished in 2018. The 2010s saw the most affordable housing development, with three projects completed in 2016 and 2018, including Madison Heights Phase I and II.
The LIHTC-funded projects in this zip code offer a diverse range of unit types. There are 24 efficiencies, 126 one-bedroom units, 150 two-bedroom units, 189 three-bedroom units, and 20 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes, with a particular emphasis on larger households.
Over the past decade, zip code 85323 has experienced steady population growth, increasing from 36,390 in 2013 to 44,948 in 2022. Median income has also risen significantly, from $50,285 in 2013 to $67,196 in 2022. This growth in population and income may have influenced the need for additional affordable housing projects, as evidenced by the completion of new LIHTC developments in 2016 and 2018.
The racial composition of the zip code has remained relatively stable, with a predominantly Hispanic population (61% in 2022) and a notable increase in the Black population from 7% in 2013 to 12% in 2022. This demographic diversity may have factored into the planning and development of LIHTC projects to ensure equitable access to affordable housing.
Zip code 85323 in Avondale, Arizona, demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. With 599 total units, of which 467 are low-income, these developments play a crucial role in addressing housing needs in the area. The zip code has seen continuous investment in affordable housing over 25 years, with a notable increase in development during the 2010s. This aligns with the area's population growth and rising median income. The diverse unit types offered cater to various household sizes, reflecting the community's needs. While LIHTC-funded units cover about 3.48% of the estimated housing inventory, they represent a significant portion of Arizona's LIHTC funding, highlighting the area's importance in the state's affordable housing landscape.