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Affordable Housing in Zip Code 52162: Three Decades of LIHTC Impact in Postville, Iowa
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 52162, located in Postville, Iowa, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 42 units. All of these units are designated as low-income. Based on the 2022 population of 3,618 and an estimated 1,386 housing units in the zip code, the LIHTC-funded affordable housing comprises approximately 3.03% of the estimated housing inventory.
The LIHTC program has invested $182,263 in project tax credits for this zip code, averaging $4,339.60 per affordable housing unit. This investment represents 0.09% of Iowa's total LIHTC funding allocation. Affordable housing has been present in the zip code for over three decades, with the first project, Holzhas Apts, completed in 1990, and the most recent, Pheasant Run Apts, finished in 1998.
The 1990s saw the most affordable housing development in this area. The inventory consists of 6 one-bedroom units, 15 two-bedroom units, and 15 three-bedroom units, providing housing options for different household sizes.
Over the past decade, the zip code has experienced population growth, increasing from 3,313 in 2015 to 3,618 in 2022. Median income has risen from $40,140 in 2015 to $57,727 in 2022. The racial composition has shifted, with the white population decreasing from 73% in 2015 to 62% in 2022, while the Hispanic population increased from 21% to 28% during the same period.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be due to the increase in median income, potentially reducing the perceived need for additional affordable housing in the area.
Zip code 52162 has a modest LIHTC-funded affordable housing inventory, covering about 3% of the estimated housing stock. The area has seen demographic shifts in the past decade, including population growth, increased median income, and changes in racial composition. While no new LIHTC projects have been developed recently, the existing affordable housing continues to serve the community, providing a range of unit sizes to accommodate diverse household needs.
