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Affordable Housing in Zip Code 10019: A Significant LIHTC Presence in Manhattan
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 10019, located in Manhattan, New York, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 5,106 total units in LIHTC funded projects, with 1,174 specifically designated as low-income units. Based on the 2022 population of 44,233 and an estimated 16,948 housing units, the LIHTC funded affordable housing covers approximately 30.1% of the zip code's housing inventory, indicating a substantial presence of affordable housing options in this area.
The LIHTC program has invested significantly in this zip code, with project tax credits totaling $13,534,498. This translates to an average federal funding of about $2,650 per unit across all LIHTC funded projects. Notably, this zip code accounts for 0.64% of New York state's total LIHTC funding, highlighting its importance in the state's affordable housing landscape.
Affordable housing has been a long-standing feature of this zip code, with the earliest LIHTC project, Clinton Assoc For A Renewed Environment, completed in 1995. The most recent project, 525 West 52Nd Street Apartments, was finished in 2017, spanning over two decades of affordable housing development.
The 2010s saw the most significant affordable housing development activity, with notable projects including Clinton Park (2011), Clinton Park Phase II (2012), and 625 West 57Th Street (2016). This decade marked a period of increased focus on affordable housing in the area.
The LIHTC funded projects in this zip code offer a diverse range of unit types. Out of the 5,106 total units, there are 921 efficiencies, 2,296 one-bedroom units, 801 two-bedroom units, 58 three-bedroom units, and 7 four-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Over the past decade, the zip code has experienced notable demographic shifts. The population has grown from 37,285 in 2013 to 44,233 in 2022, an increase of about 18.6%. During this period, the median income fluctuated, reaching a peak of $121,149 in 2016 before decreasing to $107,411 in 2022.
Racial demographics have also evolved. The white population decreased from 63% in 2013 to 55% in 2022, while the Asian population increased from 13% to 18%. The Hispanic population remained relatively stable at around 17-18%. These changes suggest a gradual diversification of the area's population.
The construction of LIHTC projects throughout this period, including 439 W 53Rd St (2013) and 625 West 57Th Street (2016), aligns with the growing population and changing demographics, indicating a continued need for affordable housing options in this evolving community.
Zip code 10019 in Manhattan demonstrates a significant commitment to affordable housing through the LIHTC program. With over 5,000 units in LIHTC funded projects, including 1,174 low-income units, this area provides substantial affordable housing options. The zip code has seen consistent development of affordable housing over more than two decades, with a particular focus in the 2010s. The diverse unit types cater to various household sizes, while the demographic shifts over the past decade underscore the ongoing importance of affordable housing in this dynamic urban area.
