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Affordable Housing in Zip Code 07801: LIHTC Contributions in Dover, New Jersey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 07801 in Dover, New Jersey, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 76 low-income units in its LIHTC projects. Based on the 2022 population of 28,407 and an estimated 10,884 housing units, the LIHTC-funded affordable housing comprises approximately 0.7% of the zip code's estimated housing inventory.
The LIHTC program has invested in this zip code, with project tax credits totaling $2,093,962. This equates to an average federal funding of $27,552 per unit. This zip code accounts for 0.28% of New Jersey's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
The affordable housing in this zip code spans nearly two decades. The earliest recorded project, Spruce Senior, was completed in 2003, and the most recent, Spruce Senior Housing #649, was finished in 2012. The 2000s and early 2010s appear to be the most active period for LIHTC development in this area.
Among the individual projects, Dover Veterans has 67 low-income units, while Spruce Senior contributes 9 two-bedroom units to the affordable housing stock. This mix indicates a focus on both veteran housing and senior accommodations within the LIHTC portfolio.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 27,250 and 28,407 residents. The median income has shown moderate growth, increasing from $79,572 in 2015 to $79,011 in 2022, with some fluctuations in between.
Racial demographics have also changed. The Hispanic population has remained the largest group, comprising 56% of the population in 2022, a slight increase from 53% in 2015. The white population has decreased from 34% to 30% during this period, while the Black population has increased slightly from 4% to 5%. These demographic shifts may influence the ongoing need for affordable housing in the area.
The 07801 zip code in Dover demonstrates a consistent commitment to affordable housing through LIHTC funding. While the current LIHTC-funded units represent a small portion of the estimated housing stock, they provide important affordable options for low-income residents, particularly seniors and veterans. The stable population and moderate income growth, combined with shifts in racial demographics, suggest an ongoing need for affordable housing solutions in this diverse community.
