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Affordable Housing in Zip Code 11414: A Decade of LIHTC Impact in Howard Beach
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 11414, located in Queens, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 96 units in LIHTC-funded projects, with 71 designated as low-income units. Based on the 2022 population of 30,368 and an estimated 11,635 housing units, LIHTC-funded affordable housing comprises approximately 0.82% of the zip code's estimated housing inventory.
The LIHTC program has invested $1,430,000 in tax credits for affordable housing projects in zip code 11414. This equates to an average federal funding of $14,896 per unit. This funding represents 0.07% of the total LIHTC funding allocated to New York State. Howard Beach Apartments, completed in 2013, is a significant LIHTC project in the area. This development has contributed to the affordable housing landscape in the zip code for nearly a decade.
The affordable housing inventory in zip code 11414 includes a diverse mix of unit types. There are 27 efficiencies, 6 one-bedroom units, and 9 two-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, zip code 11414 has experienced demographic shifts. The population has grown from 28,071 in 2013 to 30,368 in 2022, indicating a steady increase in residents. Median income has risen from $88,624 in 2013 to $90,113 in 2022, suggesting a slight improvement in overall economic conditions.
Racial demographics have shown changes. The white population has decreased from 74% in 2013 to 63% in 2022, while other racial groups have increased. The Hispanic population grew from 18% to 25%, and the Asian population increased from 1% to 6% during this period. These shifts indicate growing diversity in the area.
Zip code 11414 in Queens, New York, has a modest LIHTC-funded affordable housing presence, representing less than 1% of the estimated housing inventory. The area has seen one significant LIHTC project, Howard Beach Apartments, completed in 2013. Over the past decade, the zip code has experienced population growth, a slight increase in median income, and increasing racial diversity. These demographic shifts may influence future affordable housing needs and development in the area.
