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Affordable Housing Analysis: LIHTC Project in Boulder's 80305 Zip Code
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 80305 zip code in Boulder, Colorado, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This area has 59 affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 5,580 units in the zip code, the LIHTC-funded affordable housing comprises approximately 1.06% of the total housing stock.
The LIHTC program has invested $486,644 in tax credits for affordable housing in this zip code. This investment equates to an average federal funding of $8,248 per unit. This investment represents 0.11% of Colorado's total LIHTC funding allocation.
The sole LIHTC project in this zip code is High Mar, completed in 2014. This development marks the beginning of LIHTC-funded affordable housing in the area, providing affordable housing options for nearly a decade. High Mar consists of 59 units, with a mix of one-bedroom and two-bedroom apartments. It offers 38 one-bedroom units and 21 two-bedroom units, catering to various household sizes within the low-income community.
The 80305 zip code has experienced demographic shifts over the past decade. The population has decreased from 16,143 in 2016 to 14,564 in 2022. Despite this decrease, the median income has increased from $93,019 in 2016 to $105,890 in 2022, indicating a growing economic disparity that may increase the need for affordable housing options.
Racial demographics have remained relatively stable. The white population has decreased slightly from 86% in 2016 to 82% in 2022. The Hispanic population has increased from 5% to 7% during the same period. These changes may reflect a growing diversity in the area that could benefit from continued affordable housing initiatives.
The 80305 zip code in Boulder, Colorado, has one LIHTC-funded affordable housing project, High Mar, which provides 59 low-income units. This represents a small percentage of the total estimated housing stock. The rising median income and slight shifts in racial demographics over the past decade suggest an evolving community that may require ongoing attention to affordable housing needs. The LIHTC investment in this zip code plays a role in maintaining housing accessibility in an area experiencing economic growth.
