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Affordable Housing in Zip Code 14228: LIHTC Projects in University at Buffalo
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 14228, located in University at Buffalo, New York, contains 292 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This quantity represents all of the low-income units in the area. The zip code encompasses 15.21 square miles and had a population of 26,132 in 2022. The estimated housing inventory of 10,012 units suggests that LIHTC-funded affordable housing units constitute approximately 2.92% of the total housing stock in this zip code.
LIHTC-funded affordable housing development in zip code 14228 has occurred over several years. The initial project, Sweet Home Road, was completed in 2000, while the most recent, Sutton Place Apartments, was finished in 2003. This indicates that affordable housing has been present in the area for over two decades. The early 2000s saw the most significant affordable housing development in this zip code, with notable projects including Hopkins Court (105 units, completed in 2001) and Sutton Place Apartments (186 units, completed in 2003).
The affordable housing inventory in zip code 14228 comprises a variety of unit types. There is 1 efficiency unit, 115 one-bedroom units, 137 two-bedroom units, and 39 three-bedroom units. This distribution indicates accommodation for various household sizes, with an emphasis on smaller households and families.
The population in zip code 14228 has shown steady growth over the past decade, increasing from 22,975 in 2018 to 26,132 in 2022. This population growth of approximately 13.7% may indicate an increasing demand for housing, including affordable options. The median income in the zip code has fluctuated in recent years, rising from $56,691 in 2018 to a peak of $73,756 in 2021, before decreasing to $66,119 in 2022. This volatility in income levels could suggest a continuing need for affordable housing options in the area.
Racial demographics in zip code 14228 have remained relatively stable, with a slight decrease in the white population from 72% in 2019 to 70% in 2022, and small increases in Asian (13% to 14%) and Hispanic (6% to 7%) populations. This gradual diversification might indicate a need for culturally sensitive affordable housing options.
Zip code 14228 in University at Buffalo, New York, has a modest LIHTC-funded affordable housing presence, with 292 units representing about 2.92% of the estimated housing stock. The area experienced significant affordable housing development in the early 2000s, with a mix of unit types catering to various household sizes. While the population has grown and income levels have fluctuated over the past decade, the racial composition has remained relatively stable with slight trends towards increased diversity. These demographic shifts may influence future affordable housing needs in the area.
