Loading Content...
Affordable Housing in Edgemere: LIHTC Impact on a Growing Queens Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Edgemere, a neighborhood in Queens, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 46 total units, with 27 designated as low-income units. Based on the 2022 population of 7,740 and using the national average household size, an estimated 2,966 housing units exist in Edgemere. LIHTC-funded affordable housing represents approximately 1.55% of the estimated housing inventory in the neighborhood.
The LIHTC projects in Edgemere have received $437,958 in tax credits, averaging $9,521 per unit when divided by the total number of LIHTC-funded units. This federal funding has contributed to the creation of affordable housing in the area.
Affordable housing has been present in Edgemere since at least 1999 when the Beach 66 Apts project was completed. The most recent project, Macedonia Senior Residence Apts, was completed in 2007, indicating at least eight years of affordable housing development in the neighborhood.
The LIHTC-funded housing stock in Edgemere includes a mix of unit types. There are 4 efficiencies, 27 one-bedroom units, and 15 two-bedroom units. This distribution suggests a focus on smaller households and possibly senior housing.
Over the past decade, Edgemere has experienced significant population growth, with the population increasing from 3,953 in 2013 to 7,740 in 2022. The median income has also risen, from $66,087 in 2013 to $81,132 in 2022. Despite this growth, no new LIHTC projects have been recorded since 2007.
Regarding racial demographics, the neighborhood has maintained a predominantly Black population, with a decrease from 59% in 2013 to 51% in 2022. The Hispanic population has remained relatively stable, increasing slightly from 21% to 25% during this period. The Asian population has fluctuated, peaking at 10% in 2017-2018 before declining to 4% in 2022.
Edgemere's LIHTC-funded affordable housing inventory represents a small portion of the estimated housing stock. The neighborhood has seen significant population growth and income increases over the past decade, which may have influenced affordable housing needs. Despite these changes, no new LIHTC projects have been recorded since 2007. The existing LIHTC units provide a mix of housing types, potentially serving diverse household sizes within the community.
