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Affordable Housing in Zip Code 12302: Analysis of LIHTC-Funded Projects in East Glenville, 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
East Glenville, located in zip code 12302 in New York, has a population of 27,619 as of 2022. The zip code has 70 LIHTC-funded affordable housing units, with 61 designated as low-income units. Based on an estimated housing inventory of 10,582 units, LIHTC-funded affordable housing covers approximately 0.66% of the zip code's housing stock.
Zip code 12302 has three LIHTC-funded projects: Glenville Terrace, Highland Square Apts, and an unnamed project. Glenville Terrace, completed in 2000, offers 32 one-bedroom units, all low-income. Highland Square Apts, finished in 2005, provides 28 one-bedroom units, also all low-income. The unnamed project contributes 10 units, including 9 efficiencies and 1 one-bedroom unit, with only 1 unit classified as low-income.
The majority of LIHTC-funded affordable housing in zip code 12302 was developed in the early 2000s. These developments have provided affordable housing options in the area for nearly two decades. In terms of unit types, the LIHTC-funded projects in this zip code predominantly offer one-bedroom units, with 61 in total. There are also 9 efficiency units. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, the population in zip code 12302 has remained relatively stable, fluctuating between 26,879 and 27,619 residents. The median income has shown an overall upward trend, increasing from $73,076 in 2013 to $81,408 in 2022, indicating a gradual improvement in economic conditions.
Racial demographics have remained largely consistent, with the white population being the predominant group, accounting for around 91% of residents in 2022. There has been a slight increase in diversity, with small growth in Asian, Hispanic, and multiracial populations over the past decade.
The stability in population and the increase in median income might suggest a reduced need for additional LIHTC-funded affordable housing in recent years. However, other factors and housing programs may also influence the affordable housing landscape in this area.
Zip code 12302 in East Glenville, New York, has a modest LIHTC-funded affordable housing inventory, with 70 total units across three projects. These developments, primarily built in the early 2000s, focus on one-bedroom units, potentially serving smaller households or individuals. While the LIHTC-funded units represent a small percentage of the estimated housing stock, they contribute to the area's affordable housing options. The zip code has experienced stable population growth and increasing median income over the past decade, which may influence the demand for affordable housing in the area.
