Loading Content...
Affordable Housing Concentration in Rochester's Zip Code 14604: A Comprehensive Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14604 in Rochester, New York, encompasses a compact urban area of 0.33 square miles. This zip code exhibits a significant concentration of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 846 total units, of which 725 are designated as low-income units. Based on the estimated 1,099 housing units in the zip code, derived from the 2022 population of 2,868 and the national average household size, LIHTC-funded affordable housing comprises the majority of the zip code's housing inventory.
The LIHTC projects in zip code 14604 have received $3,228,363 in tax credits, averaging approximately $3,816 per unit. This funding represents 0.15% of the state's total LIHTC allocation, indicating a notable concentration of affordable housing investment in this small area. Affordable housing has been a long-standing feature of this zip code, with projects spanning from 1993 to 2020. The earliest project, YWCA of Rochester & Monroe County, was completed in 1993, while the most recent, Lofts at Sibley Square, was finished in 2020. The 2010s saw the most activity, with two projects completed during this decade: Andrews Terrace in 2008 and Sibley Redevelopment Affordable Phase in 2017.
The LIHTC-funded housing in zip code 14604 offers a diverse range of unit types. Out of the 846 total units, there are 145 efficiencies, 577 one-bedroom units, and 79 two-bedroom units. This distribution suggests a focus on accommodating smaller households, which aligns with urban living trends.
Over the past decade, zip code 14604 has experienced significant demographic shifts. The population has grown from 2,227 in 2010 to 2,868 in 2022, a 28.8% increase. This growth coincides with the completion of two LIHTC projects during this period, suggesting a response to increasing housing demand. Median income in the zip code has risen from $13,216 in 2013 to $48,081 in 2022. Despite this increase, the continued development of affordable housing indicates an ongoing need for low-income units, possibly due to income disparities within the area.
Racial demographics in zip code 14604 have also shifted. The white population percentage increased from 49% in 2013 to 60% in 2022, while the Black population decreased from 31% to 14%. The Hispanic population has remained relatively stable, fluctuating between 8% and 18% over the decade. These changes may reflect broader urban revitalization trends and changing neighborhood dynamics.
Zip code 14604 in Rochester demonstrates a substantial commitment to affordable housing through the LIHTC program. The high proportion of LIHTC units relative to the estimated total housing stock indicates a strong focus on providing affordable options in this urban area. The consistent development of LIHTC projects over nearly three decades, coupled with recent population growth and income increases, suggests an evolving neighborhood that continues to prioritize affordable housing alongside broader economic changes. The mix of unit types, with an emphasis on smaller units, reflects adaptations to urban living patterns and demographic needs.
