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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11355, located in Queens, New York, contains a significant number of affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. This area has 920 total units in LIHTC-funded projects, with 771 designated as low-income units. Based on the 2022 population of 75,595 and an estimated 28,964 housing units, LIHTC-funded affordable housing comprises approximately 3.17% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 11355 have received $4,873,043 in project tax credits, averaging about $5,297 in federal funding per unit. This zip code accounts for 0.23% of the total state LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been present in this zip code for over two decades. The first LIHTC project, "The Bristol," was completed in 1996, while the most recent, "One Flushing," was finished in 2019. The 2010s saw the highest level of affordable housing development, with three projects completed during this decade.
The LIHTC-funded housing in zip code 11355 offers a range of unit types. Of the 920 total units, there are 71 efficiencies, 390 one-bedroom units, 65 two-bedroom units, and 25 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, zip code 11355 has experienced some demographic changes. The population decreased from 79,530 in 2013 to 75,595 in 2022. Despite this decline, the median income increased from $47,195 in 2013 to $48,474 in 2022, suggesting a slight improvement in economic conditions for residents.
The racial composition of zip code 11355 has remained relatively stable, with a predominantly Asian population (73% in 2022). The Hispanic population increased slightly from 14% in 2013 to 16% in 2022, while other racial groups maintained relatively consistent proportions.
The steady development of LIHTC projects over the years, including the completion of "One Flushing" in 2019, indicates an ongoing need for affordable housing in the area, despite the slight increase in median income.
Zip code 11355 in Queens, New York, has a notable LIHTC-funded affordable housing presence, covering about 3.17% of the estimated housing inventory. The area has seen consistent development of affordable housing projects over more than two decades, with a concentration of activity in the 2010s. The housing stock offers a variety of unit types, predominantly one-bedroom apartments, catering to the diverse needs of the community. While the population has slightly decreased over the past decade, the ongoing investment in affordable housing through LIHTC projects suggests a continued commitment to providing housing options for lower-income residents in this predominantly Asian community.