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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11231, located in Brooklyn, New York, contains a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area encompasses 286 units in LIHTC-funded projects, with 226 designated as low-income units. Based on the 2022 population of 37,327 and an estimated 14,302 housing units, the LIHTC-funded affordable housing units constitute approximately 2% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 11231 have received $1,627,803 in tax credits, averaging about $5,691 per unit. This zip code holds 0.08% of the total state LIHTC funding, indicating a modest but significant contribution to New York's affordable housing efforts.
Affordable housing has been a consistent feature of zip code 11231, with the earliest LIHTC projects, Carroll Gardens Assoc Inc and Bk 3-H, completed in 1990. The most recent project, Mary Star of the Sea Senior Apartments, L.P., was completed in 2007, demonstrating a 17-year span of LIHTC development activity.
The 1990s saw the highest number of affordable housing project completions, with eight projects finished during this decade. Notable projects from this period include Tiffany Mews Apts (1994) and Turning Point Redhook (1995).
The LIHTC-funded housing in zip code 11231 offers a variety of unit types. While the total number of efficiencies is not available, there are 61 one-bedroom units, 89 two-bedroom units, 8 three-bedroom units, and 4 four-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, zip code 11231 has experienced population growth, increasing from 33,284 in 2013 to 37,327 in 2022. Median income has also risen significantly, from $101,633 in 2013 to $121,897 in 2022. This upward trend in income might explain the lack of new LIHTC projects since 2007, as the area may have less need for additional low-income housing.
Racial demographics have remained relatively stable, with a slight increase in the white population from 57% in 2013 to 60% in 2022. The Hispanic population has decreased from 23% to 15% during the same period, while other racial groups have seen minor fluctuations.
Zip code 11231 in Brooklyn has an established foundation of LIHTC-funded affordable housing, with projects dating back to 1990. While these units represent a small percentage of the estimated housing inventory, they provide important housing options for low-income residents. The area has seen significant income growth and demographic shifts over the past decade, which may have influenced the lack of new LIHTC developments since 2007. Despite these changes, the existing affordable housing continues to play a crucial role in maintaining diversity and accessibility in this Brooklyn neighborhood.