Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10003, located in Manhattan, New York, encompasses part of the East Village neighborhood. The Low-Income Housing Tax Credit (LIHTC) program has funded 496 total units in this zip code, with 273 designated as low-income units. Based on the estimated 20,647 housing units in the zip code, LIHTC-funded affordable housing covers approximately 2.4% of the area's housing inventory.
The LIHTC projects in zip code 10003 have received $579,494 in tax credits, averaging about $1,168 per unit in federal funding. This zip code holds 3% of New York state's total LIHTC funding, indicating a significant concentration of affordable housing investment in this area.
Affordable housing has been present in this zip code since at least 1995, with the completion of the Help 14Th Street project. The most recent project with available data, Cooper Square Supportive Housing, was completed in 2007. This represents over a decade of affordable housing development in the area.
The 1990s saw the most affordable housing projects completed, with three projects: Help 14Th Street (1995), Filmore Apts (1997), and Union Square (1998). The LIHTC-funded units in this zip code are diverse, including 125 efficiencies, 167 one-bedroom, 133 two-bedroom, 6 three-bedroom, and 1 four-bedroom units, catering to various household sizes and needs.
The Cooper Square Supportive Housing project targets individuals with mental illness, addressing a specific community need for specialized affordable housing.
Over the past decade, the population in zip code 10003 has remained relatively stable, fluctuating between 53,000 and 57,000 residents. The median income has shown an overall upward trend, rising from $120,339 in 2013 to $134,505 in 2022, with some fluctuations in between.
Racial demographics have shifted slightly, with the white population decreasing from 73% in 2015 to 63% in 2022. The Asian population has increased from 13% to 17% during the same period. The Hispanic population has also grown slightly from 7% to 10%.
Despite these demographic changes and the rising median income, no new LIHTC projects have been recorded in the last decade. This could be due to various factors, including limited available land, high construction costs in Manhattan, or a shift in affordable housing strategies.
Zip code 10003 in Manhattan has a notable presence of LIHTC-funded affordable housing, with 496 total units, including 273 low-income units. While this represents a small percentage of the estimated total housing inventory, it reflects a significant investment in affordable housing over the years. The area has seen demographic shifts, including increasing diversity and rising median incomes, which may influence future affordable housing needs and strategies in this Manhattan neighborhood.