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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
McLean (22102) in Virginia is a zip code area known for its high-income residents and proximity to Washington D.C. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this area, with a total of 40 units, including 4 designated as low-income units. Based on the estimated 11,000 housing units in the zip code, LIHTC-funded affordable housing represents approximately 0.36% of the total housing inventory.
The LIHTC program has allocated $239,000 in tax credits to affordable housing projects in this zip code. This translates to an average federal funding of $5,975 per unit. The zip code holds 0.05% of Virginia's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
Tysons Landing Apartments, completed in 2006, is the notable LIHTC-funded project in this area. This development has been providing affordable housing options in the zip code for over 15 years. The project consists of 40 units, including 8 one-bedroom, 17 two-bedroom, and 15 three-bedroom apartments, offering a mix of housing options for various household sizes.
Over the past decade, the population in this zip code has grown steadily, increasing from 22,367 in 2013 to 28,710 in 2022. The median income has fluctuated but remained consistently high, ranging from $138,112 to $155,719. This suggests a continued affluence in the area, which may impact the perceived need for additional affordable housing.
The racial composition of the zip code has shown some changes. The white population has decreased from 61% in 2013 to 52% in 2022, while the Asian population has increased from 24% to 28%. The Hispanic population has also grown from 6% to 10% during this period. These demographic shifts may indicate a growing diversity in the area, potentially influencing future affordable housing needs.
The LIHTC program has made a modest contribution to affordable housing in the McLean (22102) zip code, with 40 units developed through one project. This represents a small percentage of the overall housing stock, providing some affordable options in an area characterized by high incomes and rising property values. The changing demographics, particularly the increasing diversity, may influence future affordable housing needs in this zip code. However, the consistently high median income suggests that large-scale affordable housing development may not be a primary focus for this specific area.