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Affordable Housing in Zip Code 11239: A Decade 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 11239 in Brooklyn, New York, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 745 total units in LIHTC funded projects, with 743 of these designated as low-income units. Based on an estimated housing inventory of 6,149 units, LIHTC funded affordable housing comprises approximately 12.1% of the zip code's housing stock.
The LIHTC projects in zip code 11239 have received $10,118,357 in tax credits, averaging about $13,582 per unit. This funding represents 0.48% of New York state's total LIHTC allocation, indicating a substantial investment in affordable housing for this specific area.
The affordable housing presence in this zip code spans from 2012 to 2020, with five projects completed during this period. The first projects, Gateway Elton Street Phase I and Gateway Elton, were both completed in 2012. The most recent project, Fountain Seaview (Fountain Ave A1), was finished in 2020. The 2010s saw the most affordable housing development in this area.
The LIHTC funded projects in zip code 11239 offer a diverse range of unit types. There are 108 efficiencies, 223 one-bedroom units, 241 two-bedroom units, 64 three-bedroom units, and 4 four-bedroom units. This variety caters to different household sizes and needs within the community.
Over the past decade, zip code 11239 has experienced significant demographic changes. The population has grown from 13,063 in 2013 to 16,048 in 2022, a 22.9% increase. During this period, the median income fluctuated, rising from $30,583 in 2013 to $36,308 in 2022, an 18.7% increase.
The racial composition of the area has also shifted. The Black population increased from 49% in 2013 to 65% in 2022, while the White population decreased from 22% to 12%. The Hispanic population saw a slight decrease from 23% to 17%. These demographic changes coincided with the development of LIHTC projects, potentially responding to the evolving needs of the community.
Zip code 11239 in Brooklyn has a substantial LIHTC funded affordable housing presence, covering about 12.1% of the estimated housing stock. The area received over $10 million in tax credits for these projects, representing a significant portion of New York's LIHTC allocation. The affordable housing development spans from 2012 to 2020, with a diverse range of unit types to accommodate various household sizes. This development occurred alongside significant demographic changes, including population growth, income fluctuations, and shifts in racial composition. The LIHTC projects appear to be responsive to the evolving needs of this dynamic community.
