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Affordable Housing in Zip Code 47532: LIHTC Investment in Ferdinand, Indiana
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 47532, located in Ferdinand, Indiana, has a population of 4,532 as of 2022 and covers an area of 64.27 square miles. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 15 low-income units. Based on the estimated housing inventory of approximately 1,736 units, the LIHTC-funded affordable housing represents about 0.86% of the zip code's housing stock.
The LIHTC program has invested $411,550 in tax credits for affordable housing in zip code 47532. This investment translates to an average federal funding of $27,437 per unit. The zip code holds 0.1% of Indiana's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
The single LIHTC project in zip code 47532, Benet Hall Apartments, was completed in 2016. This project consists of 15 two-bedroom units, all of which are designated as low-income units. The 2010s mark the decade with the most affordable housing activity in this zip code.
Over the past decade, the population in zip code 47532 has remained relatively stable, fluctuating between 4,200 and 4,800 residents. The median income has shown a significant increase, rising from $60,911 in 2013 to $78,724 in 2022. This upward trend in median income may suggest a decreasing need for affordable housing in the area.
The racial composition of zip code 47532 has remained predominantly white, consistently above 97% throughout the past decade. There has been a slight increase in Hispanic representation, growing from 0% in 2015 to 2% in 2022, which could indicate a growing diversity in the area's population.
Zip code 47532 in Ferdinand, Indiana, has a modest LIHTC-funded affordable housing presence, with one project providing 15 low-income units. This represents a small fraction of the estimated housing inventory. The area has seen stable population levels and increasing median income over the past decade, which may influence the demand for affordable housing. While the LIHTC investment is relatively small compared to the state's overall funding, it contributes to addressing affordable housing needs in this predominantly rural area.
