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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 54915 in Appleton, Wisconsin, contains a notable inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code has 280 total units in LIHTC-funded projects, with 157 specifically designated as low-income units. Based on the 2022 population of 42,092 and the estimated 16,127 housing units in the zip code, the LIHTC-funded affordable housing represents approximately 1.74% of the estimated housing inventory.
The LIHTC projects in this zip code have received $3,161,984 in project tax credits, averaging about $11,293 per unit across all LIHTC-funded projects. Zip code 54915 accounts for 1.33% of Wisconsin's total LIHTC funding, indicating a significant investment in affordable housing for the area.
Affordable housing has been present in this zip code for nearly two decades. The first LIHTC project, Parkview Village Apartments, was completed in 2003, and the most recent, Woolen Mills Lofts, was finished in 2017. The 2010s saw the most activity in affordable housing development, with four out of the five projects completed during this decade, including Buchanan Cottages (2010), The Landing At Eagle Flats (2012), Riverwalk Place (2012), and Woolen Mills Lofts (2017).
The LIHTC-funded projects in this zip code offer a diverse range of unit types, including 109 one-bedroom units, 99 two-bedroom units, and 72 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, from individuals to small families.
Over the past decade, zip code 54915 has experienced steady population growth, increasing from 40,103 in 2013 to 42,092 in 2022. During this period, four LIHTC projects were completed, aligning with the growing population and potential increased demand for affordable housing.
The median income in the zip code has fluctuated but generally increased, rising from $71,345 in 2013 to $74,728 in 2022. This upward trend in median income might indicate a growing need for affordable housing options for lower-income residents who may be facing increased housing costs.
Racial demographics have remained relatively stable, with a slight increase in diversity. The white population decreased slightly from 86% in 2013 to 84% in 2022, while Asian, Black, and Hispanic populations saw small increases. This gradual diversification could suggest a need for culturally sensitive affordable housing options.
Zip code 54915 in Appleton, Wisconsin, has a modest but significant LIHTC-funded affordable housing inventory, representing about 1.74% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly two decades, with most projects completed in the 2010s. The diverse unit types offered cater to various household sizes. The growing population and increasing median income suggest an ongoing demand for such housing options. The gradual diversification of the population may also influence future affordable housing needs and designs in this zip code.