Loading Content...
Affordable Housing in Zip Code 48892: Three Decades of LIHTC Development in Webberville, Michigan
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 48892, which encompasses Webberville in Michigan, contains 48 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. All of these units are designated as low-income. Based on the 2022 population of 4,745 and using the national average household size, an estimated 1,818 housing units exist in this zip code. LIHTC funded affordable housing comprises approximately 2.64% of the estimated housing inventory in this area.
LIHTC projects in zip code 48892 have received $189,983 in tax credits, averaging $3,958 per unit. This funding represents 0.06% of Michigan's total LIHTC allocation. Affordable housing has been present in this zip code for over three decades, with the first LIHTC project, Kalamink Creek Apts, completed in 1987. The most recent project, also named Kalamink Creek, was finished in 2013.
The LIHTC funded housing in zip code 48892 consists of 32 one-bedroom units and 16 two-bedroom units, accommodating various household sizes within the low-income population.
The population in zip code 48892 has increased from 4,416 in 2013 to 4,745 in 2022. The median income has risen from $61,868 in 2013 to $75,078 in 2022, a 21.4% increase. The racial composition has remained predominantly white (93% in 2022), with slight increases in Hispanic and multiracial populations.
The completion of the Kalamink Creek project in 2013 coincides with the beginning of this demographic data period. The absence of new LIHTC projects since then, despite population growth, may be attributed to the rising median income, potentially reducing the immediate need for additional low-income housing.
Zip code 48892 demonstrates a consistent commitment to affordable housing through the LIHTC program. With 48 low-income units developed over three decades, the area has maintained a steady presence of affordable housing options. The demographic trends, particularly the rising median income, suggest a changing economic landscape that may influence future affordable housing needs in this area. The current LIHTC funded housing represents an important resource for low-income residents in this community.
