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Affordable Housing in Zip Code 70763: A Three-Decade Presence in Paulina, Louisiana
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 70763, encompassing Paulina in Louisiana, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 34 total units, with 27 designated as low-income units. This zip code spans 42.91 square miles and had a population of 5,120 in 2022. The LIHTC funded affordable housing represents approximately 1.73% of the estimated 1,962 total housing units in the zip code.
Three LIHTC funded projects exist in zip code 70763: Riverlands Apartments, Riverlands I, and Riverlands II. All projects were completed in 1994, indicating a 29-year presence of affordable housing in this area. Riverlands II is the largest project, offering 27 low-income units, while Riverlands Apartments contributes 7 units. The inventory primarily consists of two-bedroom (23 units) and three-bedroom (11 units) apartments, suggesting a focus on family accommodation.
Riverlands Apartments is designated for "Acquisition/Rehabilitation," potentially indicating the renovation of existing housing stock to create affordable units. This approach can be beneficial for preserving and improving existing housing while increasing affordability.
The population in zip code 70763 has grown steadily over the past decade, increasing from 4,152 in 2013 to 5,120 in 2022, representing a 23.3% growth. This population increase suggests a growing demand for housing in the area.
Median income in zip code 70763 has risen significantly, from $69,072 in 2013 to $88,121 in 2022, a 27.6% increase. This upward trend in income levels may indicate a changing economic landscape in the area, potentially affecting the demand for affordable housing.
Racial demographics in zip code 70763 have remained relatively stable over the past decade. The white population has consistently represented the majority, ranging from 65% to 69% of the total population. The Black population has fluctuated between 28% and 34%, while the Hispanic population has remained steady at approximately 1%.
The LIHTC funded affordable housing in zip code 70763 provides a small but significant contribution to the area's housing stock. All three LIHTC projects were completed in 1994, indicating a long-standing presence of affordable housing in the area. The focus on two and three-bedroom units suggests an emphasis on family-oriented housing.
The substantial increases in population and median income over the past decade, coupled with relatively stable racial demographics, may influence future affordable housing needs in zip code 70763. The current LIHTC inventory represents a starting point in addressing affordable housing needs. Ongoing assessment of demographic changes will be crucial in determining future affordable housing requirements for this growing community.
