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Affordable Housing in Zip Code 10301: A Decade of LIHTC Investment in Staten Island
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Staten Island's zip code 10301 contains a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 791 total units in LIHTC-funded projects, with 749 specifically designated as low-income units. Based on the estimated housing inventory of 16,575 units for the zip code, LIHTC-funded affordable housing comprises approximately 4.8% of the total housing stock.
The LIHTC projects in zip code 10301 have received $2,806,857 in project tax credits, averaging about $3,548 in federal funding per unit. This zip code accounts for 0.13% of New York state's total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
The first LIHTC project in zip code 10301 was completed in 2011, with the most recent project finished in 2013. This suggests a relatively short but impactful period of affordable housing development. The 2010s saw the most affordable housing activity, with three projects completed during this decade: Lafayette Manor, Stapleton Houses, and Victory-Fiedler.
The affordable housing inventory in zip code 10301 is diverse, offering a range of unit types. It includes 48 efficiencies, 193 one-bedroom units, 240 two-bedroom units, 239 three-bedroom units, and 71 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, the zip code's population has shown some fluctuation, with an overall increase from 40,631 in 2010 to 43,261 in 2022. The median income has also risen, from $71,142 in 2013 to $79,437 in 2022, suggesting a gradual economic improvement in the area.
Racial demographics have remained relatively stable, with some minor shifts. The white population has slightly decreased from 44% in 2013 to 43% in 2022, while the Black population has decreased from 22% to 20%. The Hispanic population has remained steady at around 23-25%. The Asian population has seen a small increase from 6% to 7%.
These demographic trends, including the rising median income and stable racial composition, may have influenced the lack of new LIHTC projects since 2013. However, other affordable housing programs may be addressing ongoing needs in the area.
Zip code 10301 in Staten Island demonstrates a noteworthy commitment to affordable housing through its LIHTC-funded projects. With 791 total units, including 749 low-income units, these developments play a crucial role in addressing housing needs for the area's lower-income residents. The diverse unit types available cater to various household sizes, while the federal funding of over $2.8 million underscores the significant investment in affordable housing in this community. Despite no new LIHTC projects since 2013, the existing inventory continues to contribute to the area's housing diversity amidst changing demographics and rising median incomes.
