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Affordable Housing in Zip Code 11217: Two Decades of LIHTC Development in Brooklyn
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 11217 in Brooklyn, New York, contains a substantial LIHTC-funded affordable housing inventory. This area has 2,092 total units in LIHTC-funded projects, with 1,375 designated as low-income units. These figures represent approximately 12.5% of the zip code's estimated housing inventory, based on a 2022 population of 43,819 and an estimated 16,789 housing units.
The LIHTC projects in zip code 11217 have received $17,556,705 in project tax credits, averaging about $8,393 in federal funding per unit. This allocation represents 0.83% of the total state LIHTC funding, indicating a significant resource investment in this area. Affordable housing has been present in this zip code since at least 1998, with the earliest recorded projects being Warren Street Supportive Housing and Muhlenberg/Nevins Residence.
The most recent completed project was FAC Renaissance LP in 2018, spanning two decades of affordable housing development. The 2010s saw the most affordable housing activity, with notable projects including 29 Flatbush Ave. (2014), BAM South (2016), 250 Ashland Place (2016), and 38 Sixth Ave at Pacific Park Brooklyn (2017). The LIHTC-funded projects in this zip code offer a diverse range of unit types, including 561 efficiencies, 711 one-bedroom units, 402 two-bedroom units, and 88 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 11217 has experienced steady population growth, increasing from 39,307 in 2013 to 43,819 in 2022. Median income has also risen significantly, from $102,098 in 2013 to $129,659 in 2022, indicating a trend towards higher-income residents. Racial demographics have remained relatively stable, with a slight increase in the Asian population (from 6% to 9%) and a small decrease in the Black population (from 18% to 15%). The White population has maintained a majority at around 52-53% throughout the decade.
Despite the rising median income, the continued development of LIHTC projects suggests an ongoing need for affordable housing in this area, possibly to maintain economic diversity in the face of gentrification pressures. Zip code 11217 in Brooklyn demonstrates a substantial commitment to affordable housing through LIHTC-funded projects. With 12.5% of the estimated housing inventory dedicated to affordable units, the area approaches the target range for a well-balanced community.
The consistent development of LIHTC projects over two decades, coupled with rising population and median income, indicates an ongoing effort to maintain affordable housing options in an increasingly affluent area. The diverse range of unit types suggests an attempt to meet varied housing needs within the community.
