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Affordable Housing in Zip Code 06033: Analysis of LIHTC Projects in Glastonbury Center
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 06033, encompassing Glastonbury Center in Connecticut, features a notable presence of affordable housing supported by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 117 units in LIHTC-funded projects, with 99 designated as low-income units. Based on the 2022 population of 29,477 and an estimated 11,294 housing units, LIHTC-funded affordable housing comprises approximately 1.04% of the estimated housing inventory in this zip code.
LIHTC projects in zip code 06033 have received $519,551 in tax credits, averaging about $4,441 per unit when distributed across all 117 LIHTC-funded units. This funding represents 0.48% of Connecticut's total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
The affordable housing inventory in this zip code spans nearly two decades. The earliest project, Carter Court Cooperative, was completed in 2003, and the most recent, Center Village, was finished in 2018. The 2010s saw the most activity in LIHTC-funded housing development.
The housing mix in these LIHTC projects is predominantly one-bedroom units, with 103 such units available. Additionally, there are 8 two-bedroom units and 6 three-bedroom units, offering some options for larger families. This distribution suggests a focus on accommodating smaller households or individuals in need of affordable housing.
Over the past decade, zip code 06033 has experienced steady population growth, increasing from 28,772 in 2013 to 29,477 in 2022. The median income has also risen, from $118,741 in 2013 to $123,320 in 2022, indicating a generally affluent area.
Racial demographics have shown slight shifts, with the white population decreasing from 85% in 2013 to 77% in 2022. Concurrently, there have been small increases in Asian (8% to 10%), Hispanic (4% to 8%), and multiracial (0% to 2%) populations. This gradual diversification may have influenced the need for more affordable housing options, as reflected in the completion of Center Village in 2018.
Zip code 06033 demonstrates a commitment to affordable housing through its LIHTC-funded projects, which provide 117 units, including 99 low-income units. While this represents a small percentage of the estimated housing inventory, it is a significant contribution to affordable housing options in an area with high median incomes. The focus on one-bedroom units suggests a strategy to address the needs of smaller households or individuals. The gradual demographic changes and steady population growth over the past decade may continue to influence affordable housing needs in this community.
