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Affordable Housing in Zip Code 14437: LIHTC Funded Projects in Dansville, New York
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 zip code 14437 in Dansville, New York, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. With 164 units in LIHTC-funded projects, including 135 designated as low-income units, this area demonstrates a commitment to providing affordable housing options. Based on the 2022 population of 9,407 and an estimated 3,604 housing units, the LIHTC-funded affordable housing comprises approximately 4.55% of the zip code's estimated housing inventory.
The LIHTC program has invested $406,530 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $2,478 per unit. Notably, this zip code accounts for 0.02% of the total LIHTC funding allocated to New York state.
The affordable housing presence in zip code 14437 spans nearly three decades, with the earliest recorded project, Faulkner Apts Phase II, completed in 1993, and the most recent, Hornellsville Apts, finished in 2010. The 2000s saw the most activity in affordable housing development, with projects like Park Hills Phases I & II completed in 2007.
The LIHTC-funded projects in zip code 14437 offer a diverse range of housing options. Out of the 164 total units, there are 58 efficiencies, 57 one-bedroom units, 24 two-bedroom units, 22 three-bedroom units, and 3 four-bedroom units. This variety caters to different household sizes and needs within the community.
Over the past decade, zip code 14437 has experienced a slight decline in population, from 9,871 in 2017 to 9,407 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $47,023 in 2017 to $52,998 in 2022. This increase in median income might suggest a changing economic landscape in the area.
The racial composition of zip code 14437 has remained relatively stable, with a predominantly white population (95% in 2022). There has been a slight increase in diversity, with the Hispanic population growing from 1% in 2017 to 3% in 2022.
Zip code 14437 in Dansville, New York, demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. While these projects cover a modest 4.55% of the estimated housing inventory, they provide essential housing options for low-income residents. The area has seen a gradual increase in median income over the past decade, coupled with a slight population decline and minimal changes in racial diversity. These demographic shifts may influence future affordable housing needs and development in the zip code.
