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Affordable Housing Analysis: Zip Code 68046 in Papillion, Nebraska - Three Decades of LIHTC Projects
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 68046 in Papillion, Nebraska, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 359 units in LIHTC-funded projects, with 306 designated as low-income units. These units represent approximately 3% of the estimated 11,913 housing units in the zip code.
LIHTC projects in zip code 68046 have received $1,133,319 in project tax credits, averaging $3,157 in federal funding per unit. This funding constitutes 0.96% of Nebraska's total LIHTC allocation. Affordable housing has been present in this zip code for over 30 years, with the first LIHTC project, Papillion Heights Apartments, completed in 1990 and the most recent, Village At Papillion, built in 2005.
The LIHTC-funded projects in zip code 68046 offer various unit types: 64 one-bedroom units, 126 two-bedroom units, 46 three-bedroom units, and 6 four-bedroom units. This diversity caters to different household sizes and needs.
Zip code 68046 experienced significant population growth from 26,315 in 2015 to 31,092 in 2022, an 18% increase. This growth suggests rising housing demand, including affordable options. The median income also increased from $92,493 in 2015 to $107,422 in 2022, potentially indicating a need for diverse housing options for various income levels.
Racial demographics in zip code 68046 show a slight shift towards increased diversity. The white population decreased from 90% in 2015 to 83% in 2022, while other racial groups, particularly Hispanic and Black populations, saw small increases. These demographic changes may influence future affordable housing needs and planning.
Zip code 68046 has an established foundation of LIHTC-funded affordable housing, with projects dating back to 1990. These units provide crucial low-income housing options, despite representing a small portion of the overall housing stock. The area has experienced significant population and income growth in recent years, along with increasing racial diversity. These demographic shifts, combined with the absence of new LIHTC projects since 2005, suggest evolving affordable housing needs in zip code 68046 that may require further examination and potential action.
