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Affordable Housing in Zip Code 46237: A Three-Decade Presence
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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 46237 in Indianapolis, Indiana, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 334 total units in LIHTC funded projects, with 163 designated as low-income units. Based on the 2022 population of 40,658 and using the national average household size, there are approximately 15,578 housing units in this zip code. LIHTC funded affordable housing comprises about 2.14% of the estimated housing inventory in the area.
LIHTC funded affordable housing has been present in zip code 46237 since 1987, beginning with the completion of the Emerson Village Apartments. The most recent project, Strawbridge Green, was completed in 1999. This indicates over three decades of affordable housing presence in the area. The 1980s and 1990s were the most active decades for LIHTC project completions in this zip code.
The inventory includes various unit types to accommodate different household sizes. There are 88 one-bedroom units, 162 two-bedroom units, and 84 three-bedroom units across the LIHTC funded projects. This distribution suggests a focus on accommodating small to medium-sized families and individuals.
Over the past decade, zip code 46237 has experienced demographic shifts. The population has remained relatively stable, with slight fluctuations. The median income has increased from $63,956 in 2013 to $74,510 in 2022, indicating improving economic conditions for residents.
Racial diversity has increased over this period. The white population has decreased from 83% in 2013 to 74% in 2022, while Asian, Black, and Hispanic populations have all seen modest increases. This trend towards greater diversity may influence future affordable housing needs and considerations.
Zip code 46237 in Indianapolis has an established affordable housing inventory through the LIHTC program, covering about 2.14% of the estimated housing stock. The area has seen consistent population levels and increasing median incomes over the past decade, alongside growing racial diversity. While the LIHTC projects were completed in earlier decades, the changing demographics may influence future affordable housing needs in this zip code.
