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Affordable Housing in Zip Code 13501: LIHTC Funding and Mental Health Support
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 13501 zip code in Utica, New York, demonstrates a significant commitment to affordable housing through Low-Income Housing Tax Credit (LIHTC) funded projects. This area contains 425 total units in LIHTC funded projects, including 326 low-income units. These units represent approximately 2.8% of the estimated 15,063 housing units in the zip code. The LIHTC projects in this zip code have received $3,407,146 in tax credits, averaging about $8,017 in federal funding per unit. This allocation represents 0.16% of the total LIHTC funding provided to New York State.
Affordable housing development in zip code 13501 spans nearly three decades. The earliest LIHTC project, Academy Square Project, was completed in 1992, while the most recent projects, Roosevelt Residences and Starting Line Apartments, were finished in 2020. The 2000s witnessed the most significant affordable housing development, with multiple projects completed during this decade. The LIHTC funded housing in this zip code offers a diverse range of unit types, including 163 one-bedroom units, 113 two-bedroom units, 78 three-bedroom units, and 44 four-bedroom units, catering to various household sizes and needs.
A notable project in zip code 13501 is West Street Apartments, completed in 2018, which specifically targets individuals with Serious Mental Illness (SMI). This project addresses a crucial need for supportive housing in the community. The presence of such specialized housing indicates efforts to meet diverse community needs within the affordable housing framework.
Demographic shifts in zip code 13501 over the past decade suggest changing housing needs. The population has increased from 36,851 in 2010 to 39,315 in 2022, indicating a growing demand for housing. Median income has also risen significantly, from $35,101 in 2013 to $45,253 in 2022, suggesting improving economic conditions in the area.
Racial demographics in zip code 13501 have diversified. The white population has decreased from 62% in 2013 to 50% in 2022. Concurrently, there have been increases in Asian, Hispanic, and multi-racial populations. This demographic shift points to a more diverse community that may benefit from continued affordable housing options.
In summary, zip code 13501 in Utica demonstrates a consistent commitment to affordable housing through LIHTC funded projects. With 425 total units, including 326 low-income units, these projects contribute to addressing housing needs in the area. The diversity of unit types and the presence of specialized housing for individuals with SMI indicate efforts to meet varied community needs. As the area continues to grow and diversify, ongoing investment in affordable housing may be crucial to maintain a balanced and inclusive community.
