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Affordable Housing in Zip Code 12037: LIHTC Projects in Chatham, New York
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 12037, located in Chatham, New York, has a population of 3,505 as of 2022. This area contains two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing 68 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 1,343 units, the LIHTC funded affordable housing comprises approximately 5.1% of the zip code's housing stock.
The LIHTC program has contributed to affordable housing in zip code 12037 since 1993, with the completion of Chatham Manor. The most recent project, Highpointe At Chatham Senior Apts, was completed in 2003, indicating a decade of LIHTC-funded development in the area. The 1990s saw the most affordable housing activity in this zip code.
The LIHTC-funded projects in this area primarily consist of one-bedroom units, with 58 in total. There is also one two-bedroom unit available. This distribution indicates a focus on housing for individuals or small families.
Over the past decade, the population in zip code 12037 has remained relatively stable, with some fluctuations. The median income has increased significantly, rising from $57,888 in 2018 to $78,153 in 2022. This upward trend in income may explain the absence of new LIHTC projects in recent years.
Racial demographics have shown slight changes, with the white population decreasing from 91% in 2017 to 90% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 2% to 3% and those identifying as two or more races increasing from 1% to 5% during this period.
Zip code 12037 has a modest LIHTC-funded affordable housing inventory, covering about 5.1% of the estimated housing stock. The area experienced LIHTC development primarily in the 1990s and early 2000s, with a focus on one-bedroom units. While the population has remained relatively stable, rising median incomes in recent years may have influenced the lack of new LIHTC projects. The racial composition has shown a slight increase in diversity, but remains predominantly white.
