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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 06880 in Connecticut has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 225 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 27,420 and an estimated 10,506 housing units, the LIHTC funded affordable housing comprises approximately 2.14% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 06880 have received $583,264 in project tax credits, averaging $2,592 per unit in federal funding. This funding represents 0.54% of Connecticut's total LIHTC allocation, indicating a substantial investment in affordable housing for this area.
Affordable housing has been present in this zip code since at least 1999, with the completion of the Hidden Brook project. The most recent project, Sasco Creek Village, was completed in 2015, demonstrating a 16-year span of LIHTC development in the area. The 2010s saw the most affordable housing projects completed, with two projects finished during this decade.
The affordable housing inventory in zip code 06880 includes a range of unit types. There are 14 one-bedroom units, 37 two-bedroom units, 28 three-bedroom units, and 32 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes. One project, Sasco Creek Village, has a target population of "Supportive," indicating it may provide additional services or accommodations for residents with special needs.
Over the past decade, zip code 06880 has experienced population growth, increasing from 22,034 in 2014 to 27,420 in 2022. The median income has also risen, from $167,045 in 2014 to $177,090 in 2022, suggesting an overall increase in affluence. The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 86% in 2014 to 80% in 2022, and small increases in Asian, Hispanic, and multi-racial populations. This demographic shift could indicate a growing need for diverse and affordable housing options.
The LIHTC program has played a significant role in providing affordable housing in zip code 06880, with 225 low-income units across multiple projects. While these units represent a small percentage of the total estimated housing inventory, they provide crucial affordable options in an area with a high median income. The diversity of unit sizes suggests an effort to accommodate various household compositions. As the area continues to grow and diversify, ongoing monitoring of affordable housing needs will be essential to ensure the community remains accessible to residents across the economic spectrum.