Loading Content...
Affordable Housing Inventory in Zip Code 12020: A 25-Year Presence
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 12020, located in Milton, New York, has a population of 33,196 as of 2022 and covers an area of 72.35 square miles. This area has a LIHTC funded affordable housing inventory of 288 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 12,719 units, the LIHTC funded affordable housing covers approximately 2.26% of the zip code's housing stock.
Zip code 12020 has four LIHTC funded projects: Milton Treeview Apts, Terrace Pines, Ballston Pines, and Northline Village. The first projects, Milton Treeview Apts and Terrace Pines, were completed in 1997, while the most recent project, Northline Village, was completed in 2002. This indicates that affordable housing has been present in the zip code for at least 25 years.
The 1990s saw the most affordable housing projects completed, with three out of the four projects being built during this decade. The distribution of units in these projects includes 134 one-bedroom units, 126 two-bedroom units, and 28 three-bedroom units, providing a mix of housing options for different household sizes.
Over the past decade, the population in zip code 12020 has increased from 31,707 in 2013 to 33,196 in 2022. The median income has risen from $82,465 in 2013 to $89,448 in 2022, with a peak of $102,246 in 2021. This upward trend in income may suggest a decreasing need for additional affordable housing in recent years.
The racial demographics of the area have remained relatively stable, with a decrease in the white population from 95% in 2013 to 89% in 2022. There has been a small increase in diversity, with slight growth in Asian, Hispanic, and multi-racial populations. This gradual diversification could potentially influence future affordable housing needs.
Zip code 12020 in Milton, New York, has a LIHTC funded affordable housing inventory covering about 2.26% of the estimated housing stock. The area saw affordable housing development in the late 1990s and early 2000s, with no new LIHTC projects recorded since 2002. The rising median income and stable population growth over the past decade may have influenced the lack of recent LIHTC developments. However, the gradual increase in diversity could potentially shape future affordable housing needs in the area.
