Zip code 12208 in Albany, New York, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as Knox Street Apartments, was completed in 2008 and provides 47 low-income units. The LIHTC program has invested $842,476 in tax credits for this project, which equates to an average federal funding of $17,925 per unit. This investment represents 0.04% of the total LIHTC funding allocated to New York State.

The Knox Street Apartments project comprises 47 units with a diverse mix of apartment sizes. It includes 34 one-bedroom units, 12 two-bedroom units, and 1 three-bedroom unit, accommodating various household sizes and needs. Based on an estimated housing inventory of 8,828 units in the zip code, the LIHTC-funded affordable housing represents approximately 0.53% of the area's housing stock.

Demographic trends in zip code 12208 over the past decade indicate potential ongoing need for affordable housing. The population has increased from 22,098 in 2013 to 23,040 in 2022, suggesting growing housing demand. Median income has fluctuated, decreasing from $64,268 in 2013 to $61,240 in 2022, potentially indicating increased need for affordable housing options.