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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 14103, encompassing Medina, New York, had a population of 10,953 in 2022. This area contains two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing 48 units, all designated as low-income. Based on an estimated housing inventory of 4,197 units, LIHTC-funded affordable housing comprises approximately 1.14% of the zip code's housing stock.
The LIHTC program has invested $168,494 in tax credits for affordable housing projects in zip code 14103. This equates to an average federal funding of $3,510 per unit. The zip code's LIHTC funding constitutes 0.01% of the total state credits allocated in New York.
Affordable housing has been present in zip code 14103 for nearly three decades. The initial LIHTC project, Sandstone Village, was completed in 1994, while the most recent project, Medina Country Estates, was finished in 2008. The 2000s experienced the highest affordable housing development activity in this area.
The affordable housing inventory in zip code 14103 predominantly consists of one-bedroom units, totaling 36. There is also one two-bedroom unit and two three-bedroom units. This distribution indicates a focus on accommodating smaller households or individuals.
Over the past decade, zip code 14103 has experienced a slight population decline, from 11,288 in 2013 to 10,953 in 2022. Despite this decrease, the median income has shown an overall upward trend, increasing from $47,081 in 2013 to $54,061 in 2022. This rise in median income may partially explain the absence of new LIHTC projects in the area since 2008.
The racial composition of zip code 14103 has remained relatively stable, with a predominantly white population (84% in 2022). There has been a slight increase in diversity, with small growth in the Hispanic population (from 4% in 2013 to 7% in 2022) and those identifying as two or more races (from 2% in 2013 to 4% in 2022).
Zip code 14103 in Medina, New York, has a modest LIHTC-funded affordable housing inventory, covering about 1.14% of the estimated housing stock. The area has seen two LIHTC projects developed over a 14-year period, with the most recent completed in 2008. While the population has slightly declined, median incomes have increased, potentially influencing the lack of new affordable housing development in recent years. The existing affordable units primarily cater to smaller households, with a majority being one-bedroom units. Despite the limited LIHTC inventory, the demographic trends suggest a relatively stable community with gradual income improvements and slight increases in diversity.