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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Upper Nyack, located in zip code 10960, is a community in New York State with a population of 14,164 as of 2022. The area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 144 total units, all designated as low-income units. Based on the estimated housing inventory of 5,427 units in the zip code, the LIHTC-funded affordable housing covers approximately 2.65% of the total housing stock.
The LIHTC program has invested in this zip code, with project tax credits totaling $1,070,724. This translates to an average federal funding of about $7,436 per unit. This zip code accounts for 0.05% of the total LIHTC funding allocated to New York State.
The affordable housing presence in this zip code spans nearly a decade, with the first project, Tallman Towers, completed in 2008, and the most recent, Nyack Point Apartments, finished in 2017. The 2000s saw the most affordable housing development activity, with two projects completed during this decade.
The LIHTC-funded housing inventory in this zip code offers a range of unit types. It includes 9 efficiencies, 84 one-bedroom units, 26 two-bedroom units, and 16 three-bedroom units. This distribution accommodates various household sizes and needs.
Nyack Point Apartments targets individuals with psychiatric disabilities. This specialized housing addresses the needs of a vulnerable population, potentially offering supportive services alongside affordable housing.
Over the past decade, the zip code has experienced demographic shifts. The population decreased from 15,260 in 2017 to 14,164 in 2022. The median income increased from $104,646 in 2017 to $115,341 in 2022, indicating an increase in affluence.
Racial demographics have shifted. The white population percentage decreased from 61% in 2017 to 57% in 2022, while the Black population increased from 15% to 18%. The Hispanic population remained stable at around 15-16%. These changes suggest a gradual increase in racial diversity within the zip code.
The completion of Nyack Point Apartments in 2017 aligns with this period of demographic change, potentially responding to evolving housing needs in the community.
The 10960 zip code area has a LIHTC-funded affordable housing inventory covering about 2.65% of the estimated housing stock. The area has seen investment in affordable housing over nearly a decade, with projects catering to various household sizes and specific populations. While the population has decreased in recent years, rising median incomes and increasing racial diversity characterize the area's demographic trends. These LIHTC projects play a role in maintaining housing affordability in a changing and increasingly affluent community.