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Affordable Housing in Zip Code 46122: A Decade of Development and Demographic Shifts
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 46122, located in Danville, Indiana, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 184 units in LIHTC funded projects, with 40 units designated as low-income. Based on the 2022 population of 17,014 and the national average household size, the estimated housing inventory for this zip code is approximately 6,519 units. The LIHTC funded affordable housing comprises about 2.8% of the estimated housing inventory in zip code 46122.
The LIHTC projects in zip code 46122 have received $2,072,875 in tax credits, averaging approximately $11,266 per unit. This funding represents 0.48% of the total LIHTC credits allocated to Indiana. The affordable housing inventory in this zip code has been developed over several years, with projects completed in 2006, 2010, and 2013. The earliest recorded project is Danbury Pointe II, completed in 2006, while the most recent is Crosswinds At Tradition Lane, finished in 2013.
The 2010s saw the most affordable housing development activity in zip code 46122, with two projects completed during this decade: East Main Apts in 2010 and Crosswinds At Tradition Lane in 2013. The LIHTC funded projects in this zip code offer a range of unit types. Out of the total 184 units, there are 36 one-bedroom, 90 two-bedroom, 39 three-bedroom, and 19 four-bedroom units. This distribution suggests accommodation for families of various sizes.
Over the past decade, zip code 46122 has experienced steady population growth, increasing from 15,705 in 2013 to 17,014 in 2022. During this period, the median income has also risen, from $73,982 in 2013 to $87,003 in 2022. The racial composition of zip code 46122 has remained predominantly white, although there has been a slight increase in diversity. The percentage of white residents decreased from 96% in 2013 to 92% in 2022, with small increases in Black, Hispanic, and Asian populations.
Zip code 46122 has a modest LIHTC funded affordable housing inventory, covering about 2.8% of the estimated housing units. The area has seen consistent development of affordable housing over the years, with projects completed in different decades. The LIHTC funding represents a small but significant portion of the state's allocation. Zip code 46122 has experienced population growth and increasing median income over the past decade, alongside a slight increase in racial diversity. These demographic trends may influence future affordable housing needs in the area.
