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Affordable Housing in Zip Code 03452: A Decade of LIHTC Development in Jaffrey, New Hampshire
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 03452, encompassing Jaffrey in New Hampshire, has a population of 5,298 as of 2022. This area contains 39 LIHTC-funded affordable housing units, with 12 specifically designated as low-income units. The LIHTC-funded affordable housing comprises approximately 1.9% of the zip code's estimated 2,030 housing units.
The LIHTC projects in zip code 03452 have received $403,388 in tax credits, averaging $10,343 per unit. This funding represents 0.8% of New Hampshire's total LIHTC allocation, indicating a small but notable contribution to the state's affordable housing efforts. Affordable housing has been present in this zip code since at least 1998, with the completion of Jaffrey Village Apartments. The most recent project, Jaffrey Mill Apartments, was completed in 2007, spanning nearly a decade of LIHTC development in the area.
The LIHTC-funded projects in this area offer a mix of unit types, with 8 one-bedroom, 28 two-bedroom, and 3 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, the population in zip code 03452 has shown a slight decline, decreasing from 5,411 in 2013 to 5,298 in 2022. The median income has fluctuated, reaching $83,072 in 2021 before decreasing to $67,783 in 2022. The racial composition of the area has remained predominantly white, though there has been a small increase in diversity. The percentage of white residents decreased from 98% in 2013 to 93% in 2022, with small increases in Asian, Black, Hispanic, and multiracial populations.
The absence of new LIHTC projects in the last decade may be attributed to the relatively stable population and median income levels, which may not have indicated a growing need for additional affordable housing units. Zip code 03452 has a modest LIHTC-funded affordable housing inventory, covering about 1.9% of the estimated housing stock. The area has seen two LIHTC projects completed between 1998 and 2007, providing a mix of unit types to serve different household sizes. These demographic trends, combined with the existing affordable housing stock, may explain the lack of new LIHTC developments in recent years.
