Loading Content...
Affordable Housing in Zip Code 80218: Three Decades of LIHTC Investment in Denver
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 80218 in Denver, Colorado, has a population of 17,958 as of 2022. This area contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 366 total units, of which 364 are designated as low-income units. Based on the estimated 6,880 housing units in the zip code, LIHTC funded affordable housing represents approximately 5.3% of the area's housing inventory.
The LIHTC projects in zip code 80218 have received $5,985,899 in project tax credits, averaging about $16,355 per unit. This funding constitutes 1.36% of Colorado's total LIHTC allocation, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been present in zip code 80218 for over three decades. The first LIHTC project, Cecil Apts, was completed in 1990, and the most recent, Emerson Flats, was finished in 2020. The 2010s saw the most affordable housing development, with four projects completed during this decade.
The LIHTC inventory in zip code 80218 includes a diverse mix of unit types: 19 efficiencies, 190 one-bedroom units, 98 two-bedroom units, and 22 three-bedroom units. This distribution suggests a focus on housing for smaller households and families.
Over the past decade, zip code 80218 has experienced population growth, increasing from 16,499 in 2010 to 17,958 in 2022. Median income has also risen significantly, from $59,189 in 2013 to $86,416 in 2022. The racial composition has remained relatively stable, with a slight increase in diversity. The white population decreased from 81% in 2013 to 79% in 2022, while the Hispanic population increased from 8% to 9%.
The continued development of LIHTC projects throughout this period of economic growth suggests an ongoing commitment to maintaining affordable housing options in an area experiencing rising incomes and property values.
Zip code 80218 in Denver, Colorado, has a substantial LIHTC funded affordable housing inventory, representing over 5% of the estimated housing stock. The area has seen consistent investment in affordable housing over three decades, with a particular focus on the 2010s. The mix of unit types caters to various household sizes, while the demographic trends indicate a growing, increasingly affluent, and slightly more diverse population. This ongoing investment in affordable housing appears to be an effort to maintain economic diversity in a changing urban landscape.
