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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 80222 in Denver, Colorado, contains 115 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 27 units designated as low-income. Based on the 2022 population of 22,757 and an estimated 8,719 housing units, LIHTC-funded affordable housing represents approximately 1.32% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 80222 have received $1,053,566 in tax credits, averaging about $9,161 per unit across all LIHTC-funded projects. This zip code holds 0.24% of Colorado's total LIHTC funding, indicating a modest contribution to the state's affordable housing efforts.
The area has seen LIHTC-funded affordable housing development from 2011 to 2014. The first project, Yale Station Apartments, was completed in 2011, followed by the Residences at University Hills in 2014. This three-year period marks the decade with the most affordable housing projects completed in the zip code.
The housing mix in these LIHTC projects includes 39 one-bedroom units and 76 two-bedroom units, catering to diverse household sizes. There are no efficiencies or larger units in these developments.
Over the past decade, zip code 80222 has experienced significant demographic shifts. The population has grown from 19,263 in 2013 to 22,757 in 2022, an 18.1% increase. This growth coincides with the completion of both LIHTC projects in the area.
Median income has risen from $58,951 in 2013 to $84,642 in 2022, representing a 43.5% increase. This income growth may indicate a changing economic landscape in the area, potentially affecting affordable housing needs.
Racial distribution has remained relatively stable, with a slight increase in diversity. The white population decreased from 72% in 2013 to 71% in 2022, while the Hispanic population remained steady at around 15%. There were small increases in Asian and multiracial populations.
Zip code 80222 in Denver has a modest LIHTC-funded affordable housing presence, representing about 1.32% of the estimated housing inventory. The area received over $1 million in tax credits for these projects, completed between 2011 and 2014. The housing mix focuses on one and two-bedroom units. The zip code has experienced significant population growth and median income increase over the past decade, which may influence future affordable housing needs. While the LIHTC projects contribute to the area's affordable housing stock, additional programs may be necessary to address the community's evolving housing requirements.