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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14526, encompassing East Rochester in New York State, has a population of 19,235 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this area, contributing 102 total units, with 101 designated as low-income units. Based on an estimated housing inventory of 7,370 units, LIHTC-funded affordable housing comprises approximately 1.38% of the zip code's housing stock.
The LIHTC program has invested $189,415 in tax credits for affordable housing projects in zip code 14526, averaging about $1,857 per unit. This investment represents 0.01% of New York State's total LIHTC funding allocation. Affordable housing has been present in this zip code since at least 2003, with the completion of the Whalen Road Apartments. The most recent project, Crown Oaks Apartments, was completed in 2008, indicating a span of at least five years of affordable housing development in the area.
The 2000s saw the most affordable housing activity, with both known projects completed during this decade. The inventory includes a mix of unit types, with 6 efficiencies, 2 one-bedroom units, 6 two-bedroom units, and 16 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the population in zip code 14526 has remained relatively stable, fluctuating between 18,351 and 19,942 residents. The median income has shown an overall upward trend, increasing from $87,410 in 2013 to $91,693 in 2022, with a peak of $107,075 in 2021. Racial demographics have remained largely consistent, with the white population comprising the majority (around 87-90%) throughout the decade. There has been a slight increase in diversity, with small growth in Hispanic and multi-racial populations.
The stability in population and gradual increase in median income might explain the lack of new LIHTC projects in the last decade, as the economic conditions may not have indicated a growing need for additional affordable housing units.
Zip code 14526 in East Rochester has a modest LIHTC-funded affordable housing presence, covering about 1.38% of the estimated housing stock. The area has seen two LIHTC projects completed in the 2000s, providing 102 total units with a focus on family-sized accommodations. While the population has remained stable and median incomes have increased over the past decade, the racial composition has shown slight diversification. These demographic trends may have influenced the lack of new LIHTC developments in recent years, though other affordable housing programs not captured in this data may also be contributing to the area's affordable housing needs.