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Affordable Housing in Zip Code 03878: A Decade of LIHTC Impact in Somersworth, NH
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 03878 in Somersworth, New Hampshire, encompasses an area of 9.87 square miles with a population of 11,890 as of 2022. This zip code contains 107 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. These LIHTC units represent approximately 2.35% of the estimated 4,556 housing units in the zip code.
The LIHTC program has funded three projects in zip code 03878, with the earliest project, Queensbury Mill, completed in 1996 and the most recent, Maple Street Somersworth, finished in 2004. This indicates that LIHTC-funded affordable housing has been present in the zip code for at least 26 years. The 1990s saw the most LIHTC activity, with two projects completed during this decade: Queensbury Mill (1996) and Crocketts Crossing (1999).
The LIHTC projects in zip code 03878 provide a mix of housing options. There are 61 one-bedroom units, 4 two-bedroom units, 28 three-bedroom units, and 14 four-bedroom units. This range of unit sizes can accommodate various household compositions, from individuals to larger families.
Over the past decade, the population in zip code 03878 has shown a slight increase, growing from 11,659 in 2013 to 11,890 in 2022. The median income has risen significantly, from $58,889 in 2013 to $69,639 in 2022, representing an 18.3% increase.
Racial demographics in zip code 03878 have remained relatively stable, with the white population consistently representing the majority at around 83-84% of the total. There has been a small increase in diversity, with slight growth in the Asian population (from 3% to 4%) and the Hispanic population (from 3% to 5%) between 2013 and 2022.
The absence of new LIHTC projects in zip code 03878 over the last decade may be related to the rising median income, which might indicate a reduced need for additional affordable housing units. However, other affordable housing programs may be addressing any remaining needs not covered by LIHTC projects.
Zip code 03878 in Somersworth, New Hampshire, has a modest LIHTC funded affordable housing inventory, covering about 2.35% of the estimated housing stock. The three LIHTC projects, completed between 1996 and 2004, provide 107 low-income units with a variety of bedroom configurations. While there have not been new LIHTC developments in recent years, this could be due to the area's rising median income and relatively stable population. The existing LIHTC funded housing continues to play a role in providing affordable options in this zip code, complementing any other affordable housing initiatives that may be present in the area.
