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Affordable Housing in White Plains Zip Code 10605: Recent LIHTC Project Impacts Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
White Plains, New York zip code 10605 has a 2022 population of 20,347 and an estimated 7,796 housing units. The Low-Income Housing Tax Credit (LIHTC) program has funded 167 affordable housing units in this zip code, with 166 designated as low-income units. This LIHTC-funded affordable housing comprises approximately 2.14% of the estimated housing inventory in the zip code.
The LIHTC projects in zip code 10605 have received $849,083 in tax credits, averaging about $5,084 per unit. This funding represents 0.04% of New York state's total LIHTC allocation, indicating a relatively small but significant investment in affordable housing for this area.
The most recent LIHTC project completed in this zip code was the Schuyler - Dekalb In White Plains, NY, finished in 2019. This project accounts for all 167 affordable units currently funded by LIHTC in the area, suggesting a recent and substantial addition to the affordable housing stock.
Over the past decade, the population in zip code 10605 has grown from 18,953 in 2013 to 20,347 in 2022, indicating a steady increase in demand for housing. The median income has fluctuated, reaching $140,653 in 2021 before decreasing to $127,374 in 2022. This recent decline in median income might suggest an increasing need for affordable housing options.
Racial demographics in zip code 10605 have remained relatively stable, with a slight decrease in the white population from 65% in 2013 to 60% in 2022, and small increases in Asian, Black, and Hispanic populations. The Hispanic population has seen a slight increase from 20% to 21% over this period.
The completion of the large LIHTC project in 2019 aligns with these demographic shifts, potentially addressing the growing diversity and changing economic landscape of the zip code.
The 10605 zip code in White Plains has seen a recent, significant investment in affordable housing through the LIHTC program, with 167 units added in 2019. This addition represents a small but important portion of the area's housing stock, addressing approximately 2.14% of the estimated housing inventory. The demographic trends over the past decade, including population growth and shifts in racial composition, along with recent fluctuations in median income, underscore the ongoing importance of affordable housing initiatives in this area.
