Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14551, located in Sodus, New York, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area hosts 96 total affordable housing units, with 94 of these specifically designated as low-income units. Based on the 2022 population of 5,441 and an estimated 2,085 housing units, the LIHTC-funded affordable housing covers approximately 4.6% of the zip code's estimated housing inventory.
The LIHTC program has invested significantly in this zip code, with project tax credits totaling $2,141,902. This translates to an average federal funding of about $22,311 per unit. Notably, this zip code accounts for 0.1% of New York State's total LIHTC funding, indicating a modest but meaningful contribution to the state's affordable housing efforts.
The affordable housing landscape in zip code 14551 is characterized by a single LIHTC-funded project: "Sodus And Williamson 11 Rd," completed in 2016. This project marks the beginning of LIHTC-funded affordable housing in the area, suggesting a relatively recent focus on affordable housing development in this community.
All 96 units in this project are one-bedroom apartments, indicating a focus on housing for individuals or small households. The project does not have a specified target population, suggesting it may serve a diverse range of low-income residents.
Over the past decade, zip code 14551 has experienced some demographic shifts that may correlate with the introduction of LIHTC-funded housing. The population has shown a slight decline, from 5,797 in 2015 to 5,441 in 2022. Despite this decrease, median income has risen from $46,782 in 2015 to $62,566 in 2022, indicating a potential improvement in economic conditions for some residents.
Racial demographics have remained relatively stable, with a slight increase in diversity. The white population decreased marginally from 85% in 2015 to 82% in 2022, while the Black population increased from 5% to 9% during the same period. The Hispanic population has remained relatively constant at around 6-7%.
The introduction of LIHTC-funded housing in 2016 aligns with a period of demographic change, potentially addressing evolving housing needs in the community.
Zip code 14551 in Sodus, New York, has a modest but significant LIHTC-funded affordable housing presence, covering about 4.6% of the estimated housing inventory. The single project, completed in 2016, represents a recent investment in affordable housing, coinciding with demographic shifts in the area. While the community has experienced a slight population decline, rising median incomes and subtle changes in racial composition suggest evolving housing needs. The focus on one-bedroom units indicates an emphasis on housing for smaller households. This LIHTC investment represents a step towards addressing affordable housing needs in the zip code, though other housing programs may also contribute to the overall affordable housing landscape.