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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bristol, New Hampshire, zip code 03222, has a population of 5,423 as of 2022. This zip code contains 60 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 57 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 2.89% of the total housing stock in this zip code, based on an estimated housing inventory of 2,078 units.
The LIHTC program has invested $598,338 in project tax credits in this zip code. This equates to an average federal funding of $9,972 per unit across all LIHTC-funded projects. Zip code 03222 accounts for 1.19% of the total LIHTC funding allocated to New Hampshire.
Affordable housing has been present in this community for over three decades. The first LIHTC project, Newfound Meadows, was completed in 1991, and the most recent addition, Newfound River Apartments, was finished in 2018. The 2010s marked the most recent period of affordable housing development in this zip code.
The LIHTC-funded projects in zip code 03222 offer various unit types. Newfound River Apartments, completed in 2018, provides 14 one-bedroom and 18 two-bedroom units, accommodating different household sizes and needs.
The population in zip code 03222 has increased gradually over the past decade, growing from 5,050 in 2010 to 5,423 in 2022. This 7.4% population growth may have contributed to the need for additional affordable housing, as evidenced by the completion of Newfound River Apartments in 2018.
Median income in zip code 03222 has shown an upward trend, increasing from $57,721 in 2013 to $64,337 in 2022. Despite this increase, the continued presence and expansion of LIHTC-funded housing suggest an ongoing need for affordable options in the community.
Racial demographics in zip code 03222 have remained relatively stable, with the white population constituting the majority. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 0% in 2013 to 3% in 2022. This gradual diversification may influence future affordable housing needs and planning.
Zip code 03222 in Bristol, New Hampshire, demonstrates a consistent commitment to providing affordable housing through the LIHTC program. With 60 total units, of which 57 are low-income, these projects represent a small but significant portion of the area's housing stock. The community has experienced steady population growth and increasing median incomes over the past decade, factors that may continue to shape the demand for affordable housing in the future. The most recent LIHTC project in 2018 indicates ongoing efforts to meet the community's evolving housing needs.