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Affordable Housing in Zip Code 08527: Vista Center's LIHTC-Funded Units
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 08527, encompassing Vista Center in New Jersey, contains 149 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 0.66% of the estimated 22,440 housing units in the zip code, based on the 2022 population of 58,569 and the national average household size.
The LIHTC program has allocated $601,693 in tax credits to projects in zip code 08527, averaging about $4,038 per unit. This allocation constitutes 0.08% of New Jersey's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts. The affordable housing projects in this zip code were completed in 2012, with two notable developments: Westlake Mews and Westlake Mews #633.
Vista Center has experienced steady population growth over the past decade, increasing from 55,086 in 2013 to 58,569 in 2022. The median income has also shown an overall upward trend, rising from $99,164 in 2013 to $100,673 in 2022, with some fluctuations in between. Racial demographics have remained relatively stable, with a slight decrease in the white population from 83% in 2013 to 76% in 2022, and a small increase in Hispanic representation from 8% to 12% during the same period.
The Asian and Black populations have remained relatively constant, each comprising 3-5% of the population. The completion of LIHTC projects in 2012 aligns with the period just before the demographic data became available, suggesting that the affordable housing developments may have been a response to growing population needs and increasing housing costs in the area.
Zip code 08527 in Vista Center has a modest but important LIHTC-funded affordable housing inventory, with 149 units completed in 2012. While this represents a small percentage of the estimated housing stock, it signifies a commitment to providing affordable options in an area with rising population and income levels. The demographic trends over the past decade show a growing and diversifying community, which may indicate an ongoing need for affordable housing options. The LIHTC program's investment in this zip code, though small in relation to the state's total, plays a crucial role in addressing local affordable housing needs.
