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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14621 in Rochester, New York, contains a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 746 total units in LIHTC-funded projects, including 697 designated low-income units. Based on the 2022 population of 30,945 and an estimated 11,856 housing units, LIHTC-funded affordable housing comprises approximately 6.3% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 14621 have received $2,091,520 in tax credits, averaging about $2,803 in federal funding per unit. This represents 0.1% of the total state LIHTC funding, indicating a significant investment in affordable housing for this specific area.
Affordable housing has been a consistent feature of zip code 14621, with projects spanning from 1987 to 2015. The earliest project, Bernard Street Apts, was completed in 1987, while Mills And Michelsen represents the most recent development in 2015. The 2000s appear to be the decade with the most affordable housing projects completed, featuring notable developments such as Kathlyn's Garden and Keeler Park Apts in 2003, Parkview Apts in 2005, and Mildred Johnson Estates in 2008.
The LIHTC-funded housing in zip code 14621 offers a diverse range of unit types. Out of the 746 total units, there are 319 efficiencies, 76 one-bedroom units, 81 two-bedroom units, 18 three-bedroom units, and 35 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, zip code 14621 has experienced some demographic shifts. The population has remained relatively stable, fluctuating between 30,000 and 33,000 residents. Median income has shown an upward trend, increasing from $25,719 in 2013 to $31,263 in 2022, suggesting a gradual economic improvement in the area.
Racial demographics in zip code 14621 have also evolved. The Black population has decreased slightly from 45% in 2013 to 41% in 2022, while the Hispanic population has increased from 31% to 38% during the same period. The White population has remained relatively stable at around 15-17%. These changes in racial composition may influence the need for culturally sensitive affordable housing options.
Zip code 14621 in Rochester, New York, demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 746 total units, including 697 low-income units, these developments cover about 6.3% of the estimated housing inventory. The area has received over $2 million in tax credits, representing 0.1% of the state's LIHTC funding. Affordable housing has been a consistent presence in the zip code for nearly three decades, with a variety of unit types available to meet diverse needs. While the population has remained relatively stable, there have been notable shifts in income levels and racial demographics over the past decade, which may influence future affordable housing needs and strategies in this area.