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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 67480, located in Solomon, Kansas, contains 16 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. Based on the 2022 population of 2,497 and an estimated 957 housing units, the LIHTC-funded affordable housing comprises approximately 1.67% of the zip code's housing inventory.
The LIHTC program has invested $24,976 in tax credits for affordable housing projects in zip code 67480. This investment represents 0.02% of Kansas's total LIHTC funding and equates to an average of $1,561 in federal funding per unit. The sole LIHTC-funded project in this area is North Pine Village, completed in 1996. This project has provided affordable housing options in the zip code for over 25 years.
North Pine Village consists of 16 units, including 4 one-bedroom and 12 two-bedroom apartments. This distribution indicates a focus on accommodating small families and individuals in the area.
Over the past decade, the population in zip code 67480 has fluctuated, showing a slight overall decrease from 2,625 in 2014 to 2,497 in 2022. Despite this population change, the median income has increased significantly, rising from $58,176 in 2014 to $68,566 in 2022. This upward trend in median income may indicate a reduced need for additional affordable housing in recent years.
The racial demographics of zip code 67480 have remained relatively stable, with a predominantly white population (93% in 2022). There has been a slight increase in Hispanic residents, from 3% in 2014 to 4% in 2022, and a small presence of other racial groups.
Zip code 67480 has a single LIHTC-funded affordable housing project, North Pine Village, which has served the community since 1996. The 16 low-income units represent a small portion of the estimated housing inventory but provide important affordable options for residents. The area has experienced a slight population decrease and significant median income growth over the past decade, which may influence the current demand for affordable housing. The stable racial demographics suggest a consistent community composition, with a slight increase in diversity. These factors combined provide a nuanced picture of the affordable housing landscape in this zip code.