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Affordable Housing in Zip Code 85301: LIHTC Funded Projects in Glendale, Arizona
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 85301 in Glendale, Arizona, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 405 units in LIHTC-funded projects, with 387 designated as low-income units. Of the estimated 23,990 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 1.69% of the local housing inventory.
LIHTC projects in zip code 85301 have received $2,101,101 in tax credits, averaging about $5,188 in federal funding per unit. This represents 1.02% of Arizona's total LIHTC funding. Affordable housing has been present in this zip code for over a decade, with projects completed between 2003 and 2014. The earliest project, San Remo Apts, was completed in 2003, while the most recent, Ironwood (Glendale), was finished in 2014. The 2000s saw the most affordable housing development activity in this area.
The LIHTC-funded projects in zip code 85301 offer various unit types. There are no efficiency units, but the inventory includes 28 one-bedroom, 276 two-bedroom, 64 three-bedroom, and 1 four-bedroom units. This distribution indicates a focus on accommodating families of various sizes, with emphasis on two-bedroom units.
Over the past decade, zip code 85301 has experienced population fluctuations, with a general upward trend from 2013 to 2019, followed by a slight decline. The median income has shown significant growth, increasing from $33,029 in 2013 to $41,330 in 2022. This rise in income levels may indicate changing economic conditions in the area.
Racial demographics in zip code 85301 have remained relatively stable. The Hispanic population decreased slightly from 64% in 2013 to 62% in 2022, while the Black population increased from 6% to 7% during the same period. The Asian population grew from less than 1% to 2%, and the White population remained steady at around 23-24%.
Zip code 85301 in Glendale, Arizona, has a modest but significant LIHTC-funded affordable housing presence, covering about 1.69% of the estimated housing inventory. The area has seen consistent development of affordable housing over the years, with a focus on family-sized units. While the LIHTC projects represent a small portion of the overall housing stock, they play an important role in providing affordable options in an area that has experienced rising median incomes and relatively stable racial demographics over the past decade.
