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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 46582, located in Warsaw, Indiana, contains 202 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 142 designated as low-income units. Based on the 2022 population of 12,855 and the national average household size, an estimated 4,925 housing units exist in this zip code. LIHTC funded affordable housing comprises approximately 4.1% of the estimated housing inventory in this area.
The LIHTC program has contributed to affordable housing in zip code 46582 for over a decade. The earliest project, Canterbury House Apts I (Warsaw), was completed in 2003, while the most recent, Heron Preserve Apts II, was finished in 2007. This indicates a consistent effort to provide affordable housing options in the area over a four-year period.
The 2000s saw the most significant development of affordable housing in this zip code. All four LIHTC funded projects - Canterbury House Apts I and II, and Heron Preserve Apts I and II - were completed during this decade, demonstrating a concentrated effort to increase affordable housing options during this time.
The LIHTC funded projects in zip code 46582 offer a diverse range of options. There are 23 one-bedroom units, 81 two-bedroom units, 59 three-bedroom units, and 30 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and household compositions.
Over the past decade, the population in zip code 46582 has shown a slight increase, growing from 12,211 in 2013 to 12,855 in 2022. The median income has also seen some fluctuation, rising from $60,842 in 2013 to a peak of $70,675 in 2017, before settling at $64,404 in 2022. This suggests a relatively stable economic environment.
Racial demographics have shown some shifts, with the white population decreasing slightly from 86% in 2013 to 76% in 2022. Meanwhile, there have been small increases in Asian, Black, and Hispanic populations, indicating a gradual diversification of the community.
The lack of new LIHTC projects in the last decade could be related to the relatively stable population and income levels, which might suggest that the existing affordable housing stock has been sufficient to meet the community's needs during this period.
Zip code 46582 in Warsaw, Indiana, has a modest but significant LIHTC funded affordable housing presence, covering about 4.1% of the estimated housing inventory. The area saw concentrated development of affordable housing in the early to mid-2000s, with four projects completed between 2003 and 2007. These projects offer a range of unit sizes to accommodate diverse household needs. While there have not been new LIHTC projects in the last decade, the area has experienced slight population growth and income fluctuations, along with gradual racial diversification. This analysis provides insight into the affordable housing landscape of this zip code, highlighting the contribution of the LIHTC program to meeting housing needs in the community.