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Affordable Housing Inventory Analysis in Zip Code 46383: LIHTC-Funded Projects in Valparaiso, Indiana
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 46383 in Valparaiso, Indiana, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code has 520 total units in LIHTC-funded projects, with 283 of these designated as low-income units. Based on the 2022 population of 40,039 and an estimated 15,341 housing units, the LIHTC-funded affordable housing represents approximately 3.39% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 46383 have received $1,009,503 in project tax credits, averaging about $1,941 per unit in federal funding. This zip code holds 0.24% of Indiana's total LIHTC funding, indicating a modest but notable presence in the state's affordable housing efforts.
Affordable housing has been present in zip code 46383 for nearly three decades. The first LIHTC project, Hunter's Pointe I, was completed in 1993, while the most recent, Aurora View, was finished in 2018. The 1990s saw the most affordable housing development, with three projects completed during that decade.
The LIHTC-funded housing in zip code 46383 offers a diverse range of unit types. There are 6 efficiencies, 128 one-bedroom units, 233 two-bedroom units, and 108 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 46383 has experienced moderate population growth, increasing from 38,469 in 2013 to 40,039 in 2022. The median income has fluctuated, rising from $63,530 in 2013 to a peak of $71,726 in 2019, before settling at $66,295 in 2022. This income trend suggests a continued need for affordable housing options.
The racial composition of zip code 46383 has remained relatively stable, with a slight increase in diversity. The white population decreased slightly from 85% in 2013 to 85% in 2022, while the Hispanic population remained steady at around 7-8%. The Black population increased marginally from 2% to 3% during this period.
Zip code 46383 in Valparaiso, Indiana, has an established LIHTC-funded affordable housing inventory, representing about 3.39% of the estimated housing stock. The area has seen consistent development of affordable housing over nearly three decades, with a diverse range of unit types available. The population has grown moderately and incomes have fluctuated, while the racial composition has remained relatively stable with a slight increase in diversity. These demographic trends underscore the ongoing importance of affordable housing options in this zip code.
