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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 51108 in Sioux City, Iowa, has a population of 8,263 as of 2022 and an estimated 3,166 housing units. The Low-Income Housing Tax Credit (LIHTC) program has funded 46 affordable housing units in this area, all of which are designated as low-income units. These LIHTC-funded units represent approximately 1.45% of the estimated housing inventory in the zip code.
The LIHTC program has invested $282,927 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of about $6,151 per unit. This zip code accounts for 0.13% of the total LIHTC funding allocated to Iowa.
Affordable housing has been present in this zip code since at least 1999, with the completion of the Pinnacle Apts Of Sioux City project. The most recent project, Spring Hills Apts, was completed in 2004, indicating a span of at least 5 years of LIHTC-funded affordable housing development in the area. The early 2000s saw the most activity in affordable housing construction in this zip code.
The LIHTC-funded housing inventory in this zip code consists of 30 one-bedroom units, 14 two-bedroom units, and 2 three-bedroom units. This distribution suggests a focus on smaller household sizes, with a majority of units suitable for individuals or couples.
Over the past decade, the population in this zip code has remained relatively stable, fluctuating between 7,249 and 8,265 residents. The median income has shown an overall increasing trend, rising from $57,710 in 2013 to $68,255 in 2022, with a notable spike to $87,576 in 2021.
The racial composition of the zip code has remained predominantly white, consistently accounting for around 80% of the population. There has been a slight increase in racial diversity, with the Hispanic population growing from 12% in 2013 to 16% in 2022, and a small but consistent presence of Black residents (around 2-3%) in recent years.
No new LIHTC projects have been reported in this zip code since 2004. This could be due to various factors, including changes in local housing needs, shifts in funding priorities, or the possibility that other housing assistance programs may be addressing affordable housing needs in the area.
Zip code 51108 in Sioux City, Iowa, has a modest LIHTC-funded affordable housing inventory, representing about 1.45% of the estimated housing units. The area has seen two LIHTC projects completed between 1999 and 2004, providing 46 low-income units. While the population has remained relatively stable over the past decade, there has been an overall increase in median income and a slight increase in racial diversity. The lack of recent LIHTC projects may indicate changing housing needs or the presence of alternative affordable housing initiatives in the area.