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Affordable Housing in Zip Code 11106: LIHTC Funding and Demographic Shifts
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 11106, located in Queens, New York, has a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that contributes to the area's housing needs. This zip code has a total of 26 affordable units, all of which are designated as low-income units.
The LIHTC funded affordable housing covers approximately 0.18% of the estimated 14,498 housing units in the zip code. This percentage is based on the 2022 population of 37,839 and the national average household size of 2.61.
The LIHTC projects in this zip code have received $459,544 in project tax credits. With 26 total units, this translates to an average federal funding of about $17,675 per unit. This zip code holds 0.02% of the total state LIHTC funding, indicating a relatively small portion of New York's overall affordable housing investment.
Affordable housing has been present in this zip code since at least 2005, with the most recent project completed in 2013. The Hour Apts project was completed in 2005, while the Hour Apartment House III was finished in 2013. This eight-year span represents the period of LIHTC-funded affordable housing development in the area.
The 2010s saw the most recent affordable housing project completion in this zip code. The Hour Apartment House III, completed in 2013, added 18 units to the affordable housing inventory. This project includes 15 two-bedroom units and 3 three-bedroom units, catering to small and medium-sized families.
One notable project, the Hour Apartment House III, has a specific target population: individuals with HIV/AIDS and those dealing with substance abuse. This specialized focus addresses the unique housing needs of vulnerable populations within the community.
Analyzing demographic trends over the last decade, we observe that the population in zip code 11106 has remained relatively stable, fluctuating between 35,000 and 39,000 residents. The median income has shown a significant increase, rising from $56,584 in 2013 to $77,399 in 2022. This upward trend in income might partially explain the lack of new LIHTC projects in recent years.
Racial demographics have also shifted slightly. The Asian population has increased from 15% in 2013 to 21% in 2022, while the Hispanic population has decreased from 30% to 26% during the same period. The white population has remained relatively stable, decreasing slightly from 44% to 41%.
In summary, zip code 11106 has a small but targeted LIHTC-funded affordable housing inventory, with 26 units across two projects built between 2005 and 2013. While this represents a small percentage of the estimated housing stock, the focus on specific populations like those with HIV/AIDS and substance abuse issues demonstrates an effort to address particular community needs. The rising median income and shifting racial demographics over the past decade provide context for the affordable housing landscape in this Queens neighborhood.
