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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brooklyn's 11225 zip code, located in New York City, contains a significant LIHTC funded affordable housing inventory. The area has 366 units in LIHTC funded projects, with 231 designated as low-income units. This represents approximately 1.62% of the estimated 22,618 housing units in the zip code.
The LIHTC projects in this zip code have received $913,225 in project tax credits, averaging about $2,495 per unit. This allocation represents 4% of the total LIHTC funding for New York State, indicating a notable concentration of affordable housing investment in this area.
The affordable housing presence in this zip code spans several decades. The earliest recorded LIHTC project, St Marks House Phase II, was completed in 1992, while the most recent, 626 Flatbush Avenue, was finished in 2016. This 24-year period demonstrates a sustained effort to provide affordable housing in the area. The 2000s saw significant activity, with projects like East NY Cluster being completed.
The LIHTC funded housing stock in this zip code offers a diverse range of unit types. The inventory includes 10 efficiencies, 112 one-bedroom units, 140 two-bedroom units, and 37 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the zip code has experienced demographic shifts. The population has decreased slightly from 62,711 in 2015 to 59,033 in 2022. Median income has increased significantly, rising from $55,772 in 2015 to $66,446 in 2022, potentially indicating gentrification pressures.
Racial demographics have also changed. The Black population has decreased from 66% in 2015 to 54% in 2022, while the White population has increased from 19% to 27% during the same period. The Hispanic population has remained relatively stable at around 10-11%.
These demographic changes, particularly the rising median income and shifting racial composition, may influence the ongoing need for affordable housing in the area. The completion of the 626 Flatbush Avenue project in 2016 suggests that affordable housing development has continued in response to these changes.
The 11225 zip code in Brooklyn demonstrates a notable presence of LIHTC funded affordable housing, with 366 total units representing about 1.62% of the estimated housing inventory. The area has seen sustained affordable housing development over more than two decades, with significant investment relative to the state's overall LIHTC funding. While demographic shifts indicate rising incomes and changing racial composition, the continued development of affordable housing projects suggests an ongoing commitment to maintaining economic diversity in the area. The variety of unit types in the LIHTC funded projects reflects an effort to accommodate different household sizes and needs within the affordable housing stock.