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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brooklyn's 11211 zip code, located in the Williamsburg neighborhood, contains a significant inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This zip code encompasses 805 total units in LIHTC funded projects, with 600 of these designated as low-income units. Based on the 2022 population of 65,369 and an estimated 25,046 housing units, the LIHTC funded affordable housing represents approximately 3.2% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 11211 have received $5,432,744 in tax credits, averaging about $6,748 in federal funding per unit. This zip code holds 0.26% of New York State's total LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been a consistent feature in zip code 11211, with projects spanning from 1990 to 2018. The first LIHTC project, "Round I (Rodney Driggs)," was completed in 1990, while the most recent, "695 Grand Street Project," was finished in 2018. The 1990s saw the most affordable housing development, with six projects completed during that decade.
The LIHTC funded housing stock in zip code 11211 offers a diverse range of unit types. Of the 805 total units, there are 89 efficiencies, 292 one-bedroom units, 184 two-bedroom units, 35 three-bedroom units, and 3 four-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
One notable project, the "695 Grand Street Project," completed in 2018, specifically targets ex-offenders, addressing the unique housing needs of this population and potentially supporting their reintegration into the community.
Over the past decade, zip code 11211 has experienced significant demographic changes. The population has grown from 61,842 in 2013 to 65,369 in 2022, a 5.7% increase. Median income has risen from $52,476 in 2013 to $83,979 in 2022, representing a 60% increase.
Racial demographics have remained relatively stable, with a slight increase in diversity. The white population decreased from 62% in 2013 to 60% in 2022, while the Asian population increased from 3% to 6%. The Hispanic population decreased from 30% to 26%.
Despite the rising median income, the continued development of LIHTC projects through 2018 suggests an ongoing need for affordable housing in this rapidly gentrifying area.
Zip code 11211 in Brooklyn demonstrates a significant commitment to affordable housing through the LIHTC program. With 805 total units, of which 600 are low-income, these projects play a crucial role in maintaining housing diversity in an area experiencing rapid income growth and gentrification. The long-term presence of LIHTC projects, spanning nearly three decades, underscores the enduring importance of affordable housing in this urban neighborhood. While the LIHTC funded units represent a small percentage of the total estimated housing stock, they provide essential housing options for lower-income residents in an increasingly affluent area.