Loading Content...
Affordable Housing in Zip Code 10520: Analysis of Symphony Knoll Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10520 in Croton-on-Hudson, New York, has a population of 12,720 as of 2022. This area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 11 total units, all of which are designated as low-income units. Based on the estimated 4,874 housing units in the zip code, the LIHTC-funded affordable housing covers approximately 0.23% of the area's housing inventory.
The LIHTC program has provided $148,574 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $13,507 per unit. The zip code holds 0.01% of the total state LIHTC funding, indicating a relatively small portion of New York's overall affordable housing investment.
The zip code's LIHTC-funded affordable housing project, Symphony Knoll, was completed in 2009. This project represents the beginning of LIHTC-funded affordable housing in the area, with no subsequent projects recorded. All 11 units in this project are one-bedroom apartments, catering to smaller households or individuals.
Over the past decade, the population in zip code 10520 has remained relatively stable, with a slight decrease from 13,310 in 2013 to 12,720 in 2022. The median income has seen some fluctuations but has generally remained high, ranging from $125,600 to $137,251 during this period. This suggests a predominantly affluent area, which may explain the limited LIHTC investment.
Racial demographics have shown minimal changes, with the white population consistently representing the majority (73-77% in recent years). There has been a slight increase in the Hispanic population, from 12% in 2013 to 14% in 2022. The Asian and Black populations have remained relatively stable at around 3-5% each.
Zip code 10520 has a single LIHTC-funded affordable housing project, Symphony Knoll, completed in 2009, providing 11 one-bedroom units. This represents a small fraction (0.23%) of the estimated housing inventory. The area's high median income and stable demographics suggest a limited need for additional affordable housing through the LIHTC program. However, other affordable housing programs may be present in the area, contributing to the overall affordable housing stock beyond what is captured by LIHTC data alone.
