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Affordable Housing in Zip Code 21009: Three Decades of LIHTC Development in Bel Air South, Maryland
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 21009, located in Bel Air South, Maryland, has a population of 30,075 residents as of 2022. This area contains 83 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. These LIHTC-funded units constitute approximately 0.72% of the estimated 11,523 housing units in the zip code, based on the 2022 population and national average household size.
The LIHTC program has invested $1,485,345 in tax credits for affordable housing projects in zip code 21009. This equates to an average federal funding of $17,896 per unit. Notably, this zip code accounts for 1.03% of Maryland's total LIHTC funding, indicating a relatively significant allocation of resources to this area.
Affordable housing has been present in zip code 21009 for nearly three decades. The first LIHTC project, Friendship Village, was completed in 1990, and the most recent, Riverwoods At Tollgate II, was finished in 2019. The 1990s saw the most affordable housing development activity, with two projects completed during that decade.
The LIHTC-funded housing inventory in zip code 21009 consists primarily of one-bedroom to three-bedroom units. There are 16 one-bedroom units, 17 two-bedroom units, and 18 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, from individuals to small families.
Over the past decade, zip code 21009 has experienced steady population growth, increasing from 27,468 in 2013 to 30,075 in 2022. Concurrently, the median income has risen from $92,544 in 2013 to $102,287 in 2022, indicating overall economic improvement in the area.
The racial composition of zip code 21009 has shown some changes. The white population has decreased from 78% in 2013 to 71% in 2022, while the Black population has increased from 13% to 18% during the same period. The Asian and Hispanic populations have remained relatively stable at around 4-5% each.
The completion of the Riverwoods At Tollgate II project in 2019 coincides with these demographic shifts, potentially addressing the changing needs of the community as it becomes more diverse.
Zip code 21009 in Bel Air South, Maryland, has a modest but significant LIHTC-funded affordable housing inventory. While these 83 units represent a small percentage of the estimated housing stock, they play an important role in providing affordable options in an area with rising median incomes. The LIHTC program has invested substantially in this zip code, accounting for over 1% of Maryland's total LIHTC funding. The area's changing demographics, including increased diversity and population growth, suggest an ongoing need for affordable housing options to support the evolving community.
