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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Patchogue, New York, zip code 11772, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 408 total units in LIHTC funded projects, with 269 designated as low-income units. LIHTC funded affordable housing represents approximately 2.37% of the total housing stock, based on an estimated 17,241 housing units in the zip code.
The LIHTC program has invested $2,710,692 in tax credits in this zip code. This equates to an average federal funding of about $6,644 per unit across all LIHTC funded projects. Zip code 11772 accounts for 0.13% of the total LIHTC funding allocated to New York State.
LIHTC funded housing in this area spans from 1995 to 2011. The earliest project, Fairway Manor, was completed in 1995, and the most recent, Artspace Patchogue, in 2011. Five out of six projects were completed during the 2000s.
The housing inventory primarily consists of one-bedroom units (295), followed by two-bedrooms (84), efficiencies (8), and three-bedrooms (3). This distribution suggests a focus on accommodating smaller households and potentially seniors. Artspace Patchogue, completed in 2011, specifically targets artists, addressing the needs of a specific community.
The population in zip code 11772 has remained relatively stable over the past decade, fluctuating between 44,999 and 45,860. The median income has shown an overall upward trend, increasing from $87,637 in 2015 to $96,214 in 2022, with a peak of $104,726 in 2021. Racial demographics have remained fairly consistent, with a slight increase in diversity. The white population decreased from 71% in 2020 to 69% in 2022, while the Asian population grew from 2% to 3% in the same period. The Hispanic population decreased from 22% to 20%.
Zip code 11772 in East Patchogue demonstrates a commitment to affordable housing through its LIHTC funded projects. These projects provide crucial affordable options for residents, despite covering a small percentage of the total estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with a focus on smaller units suitable for various household types. The targeting of artists in one project shows an innovative approach to addressing specific community needs. The continued presence of LIHTC projects suggests an ongoing demand for affordable housing in this community, despite rising median incomes.