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Affordable Housing in Zip Code 12758: LIHTC Projects Cover Nearly 10% of Housing Stock
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 12758, located in Livingston Manor, New York, contains a significant proportion of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 187 total units in LIHTC funded projects, with 186 of these designated as low-income units. Based on the estimated housing inventory of approximately 1,910 units for the 2022 population, LIHTC funded affordable housing comprises about 9.8% of the zip code's housing stock. This percentage indicates a substantial contribution to affordable housing needs in the area.
The LIHTC projects in zip code 12758 have received $1,174,625 in tax credits, averaging about $6,281 per unit. This funding represents 0.06% of the total LIHTC credits allocated in New York State, highlighting the zip code's share of affordable housing investment. Affordable housing has been present in this zip code for nearly three decades. The earliest recorded project, School Street Gardens, was completed in 1994, while the most recent dated project, Sherwood Heights / Livingston Manor, was finished in 2010. The 2010s saw the most activity in LIHTC funded housing development.
The affordable housing inventory in zip code 12758 is diverse, comprising 54 one-bedroom units, 59 two-bedroom units, and 20 three-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, zip code 12758 has experienced fluctuations in population, with a general downward trend from 5,399 in 2016 to 4,984 in 2022. Median income has shown variability, ranging from a low of $57,239 in 2014 to a high of $69,327 in 2015, with the most recent figure at $61,909 in 2022.
Racial demographics in zip code 12758 have remained relatively stable, with a slight decrease in the white population from 87% in 2014 to 85% in 2022. There has been a small increase in diversity, particularly in the Hispanic population, which grew from 4% in 2014 to 8% in 2022.
The completion of the Sherwood Heights / Livingston Manor project in 2010 coincided with a period of population growth and income fluctuation, possibly addressing an increased need for affordable housing during that time.
Zip code 12758 demonstrates a significant commitment to affordable housing through its LIHTC funded projects. With nearly 10% of its estimated housing stock dedicated to affordable units, the area has made substantial strides in addressing low-income housing needs. The long-term presence of these projects, spanning from 1994 to 2010, indicates a sustained effort to maintain and expand affordable housing options. While demographic trends show a slight population decrease and income variability, the consistent presence of LIHTC projects suggests an ongoing recognition of the importance of affordable housing in this community.
