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Affordable Housing in Zip Code 12534: LIHTC-Funded Projects in Stottville, 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 12534 in Stottville, New York, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 287 total units in LIHTC-funded projects, with 206 designated as low-income units. Based on an estimated 7,046 housing units in the zip code, calculated using the 2022 population of 18,390 and the national average household size of 2.61, the LIHTC-funded affordable housing comprises approximately 4.1% of the zip code's housing inventory.
The LIHTC program has invested $2,829,876 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $9,860 per unit in LIHTC-funded projects. Notably, this zip code accounts for 0.13% of the total LIHTC funding allocated to New York State.
The affordable housing inventory in this area has developed over nearly two decades. The earliest recorded project, Stottville Court, was completed in 2003, while the most recent dated project, Hudson / Half Moon Terrace Apts, was finished in 2010. The most active period for LIHTC development appears to be the 2000s, with four projects completed during this decade.
The LIHTC-funded housing stock in this zip code offers a mix of unit types. There are 91 one-bedroom units, 132 two-bedroom units, and 28 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the zip code has experienced subtle demographic shifts. The population has remained relatively stable, fluctuating between 18,224 and 18,756 residents. Median income has shown an overall upward trend, increasing from $52,495 in 2013 to $61,183 in 2022, with some fluctuations in between.
Racial distribution has remained fairly consistent, with a slight increase in diversity. The white population has decreased marginally from 77% in 2013 to 75% in 2022. The Asian population has grown from 2% to 6%, and the Black population has held steady around 9-10%. The Hispanic population has remained relatively constant at 6-7%.
The 12534 zip code area has a moderate LIHTC-funded affordable housing presence, covering about 4.1% of the estimated housing inventory. The area has seen consistent development of affordable housing over nearly two decades, with a concentration of activity in the 2000s. The mix of unit types suggests an effort to accommodate diverse household needs. Demographic trends show a slight increase in income levels and racial diversity, while the stable population indicates a continuing need for affordable housing options in the area.
