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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 13838, located in Sidney, New York, has a population of 4,013 as of 2022. This area has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The zip code contains 54 total units in LIHTC funded projects, with 43 of these designated as low-income units. Based on an estimated housing inventory of 1,538 units, the LIHTC funded affordable housing covers approximately 3.5% of the zip code's housing stock.
The LIHTC program has invested in this zip code, with project tax credits totaling $827,329. This translates to an average federal funding of $15,321 per unit. Zip code 13838 accounts for 0.04% of the total LIHTC funding allocated to New York State.
The affordable housing presence in this zip code spans several years, with the earliest recorded project, Sherwood Landing, completed in 2013, and the most recent, Sidney Municipal Apartments, finished in 2018. This indicates at least five years of affordable housing development in the area.
The 2010s saw the most affordable housing activity, with two projects completed during this decade. The housing mix in LIHTC funded projects includes 26 one-bedroom units and 28 two-bedroom units, catering to different household sizes.
Over the past decade, the zip code has experienced fluctuations in population, with a peak of 4,435 residents in 2015 and a subsequent decline to 4,013 by 2022. The median income has shown an upward trend, rising from $38,153 in 2013 to $50,120 in 2022, which may indicate changing economic conditions in the area.
Racial demographics have remained stable, with the white population consistently representing over 90% of residents. There has been a slight increase in diversity, with small but growing percentages of Hispanic, Black, and multi-racial residents.
The completion of LIHTC projects in 2013 and 2018 aligns with periods of population growth and income fluctuation, suggesting these developments may have responded to changing housing needs in the community.
Zip code 13838 has a modest but significant LIHTC funded affordable housing presence, covering about 3.5% of the estimated housing stock. The area has seen investment in affordable housing over the past decade, with projects tailored to various household sizes. While the population has fluctuated, the overall trend in median income has been positive. The LIHTC projects appear to have been timed to address housing needs during periods of demographic change in this predominantly white community that is slowly diversifying.