Loading Content...
Affordable Housing in Zip Code 10075: LIHTC Program Impact on Manhattan's Upper East Side
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10075, located in Manhattan, New York, is characterized by high population density and affluent residents. The Low-Income Housing Tax Credit (LIHTC) program has funded 43 affordable housing units in this area, with 42 units designated as low-income. These LIHTC-funded units represent approximately 0.44% of the estimated 9,730 housing units in the zip code.
The LIHTC program has invested $441,508 in tax credits for affordable housing projects in zip code 10075, averaging $10,267 per unit. This funding accounts for 0.02% of New York state's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing efforts in this area. Two LIHTC-funded projects exist in zip code 10075: "246 E 77Th St Apts" completed in 2002 and "76Th St Apts" finished in 2006.
The 2000s saw the most affordable housing activity in this zip code, with both projects completed during this decade. The inventory primarily consists of efficiency units, with 31 efficiencies and 3 one-bedroom units. There are no two-, three-, or four-bedroom units in these LIHTC-funded projects.
The population in zip code 10075 has fluctuated over the past decade, with a slight overall decrease from 26,405 in 2015 to 25,394 in 2022. The median income has also changed significantly, peaking at $170,312 in 2015 and decreasing to $117,811 in 2022. This trend may suggest an increasing need for affordable housing options in the area.
Racial demographics have shown shifts, with the white population decreasing from 84% in 2015 to 78% in 2022. There has been a slight increase in Asian, Black, and Hispanic populations. The Hispanic population grew from 6% in 2015 to 8% in 2022. These demographic changes could indicate growing diversity in the area and potentially a greater need for affordable housing options to support various income levels.
Zip code 10075 in Manhattan has a small but established LIHTC-funded affordable housing inventory, consisting of 43 units across two projects. This represents a small fraction of the estimated total housing units but provides crucial affordable options in an area known for high living costs. The concentration on efficiency and one-bedroom units suggests a focus on smaller households or individuals. Recent demographic trends, including a decrease in median income and increasing diversity, may indicate a growing need for affordable housing options in this zip code.
