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Affordable Housing in Throgs Neck: LIHTC Impact on a Changing Bronx Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Throgs Neck, a Bronx neighborhood in New York, has 139 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 114 designated as low-income. This represents approximately 1.05% of the neighborhood's estimated 13,224 housing units. The LIHTC program has invested $1,234,335 in tax credits for affordable housing in Throgs Neck, averaging $8,880 per unit across LIHTC-funded projects. The inventory includes 119 efficiencies, 19 one-bedroom units, and 1 two-bedroom unit.
The Fort Schuyler project, completed in 2019, is the most recent addition to Throgs Neck's LIHTC-funded affordable housing stock. This project has significantly contributed to the neighborhood's affordable housing inventory.
Throgs Neck has experienced demographic shifts over the past decade. The population has fluctuated with a general upward trend from 32,196 in 2019 to 34,515 in 2022. The median income has varied, rising from $82,737 in 2019 to $79,714 in 2022.
Racial demographics have changed, with the Hispanic population decreasing from 52% in 2019 to 51% in 2022, while the White population decreased from 33% to 29%. The Asian population increased from 2% to 5%, and the Black population grew from 11% to 13%. The completion of the Fort Schuyler project in 2019 aligns with these demographic shifts, potentially responding to changing housing needs in the neighborhood.
Throgs Neck's LIHTC-funded affordable housing inventory provides crucial low-income housing options. The recent Fort Schuyler project has added a significant number of units, primarily efficiencies and one-bedroom apartments. The demographic trends, including population growth and shifts in racial composition, may have influenced the need for affordable housing in the neighborhood. The current LIHTC-funded inventory, covering a small percentage of the estimated housing stock, represents an important contribution to addressing affordable housing needs in Throgs Neck.
