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Affordable Housing Inventory in Zip Code 14904: Analysis of LIHTC Projects in Southport, New York
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 14904 in Southport, New York, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 98 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 13,556 and an estimated 5,194 housing units, the LIHTC funded affordable housing comprises approximately 1.89% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 14904 have received $2,824,817 in tax credits, averaging $28,825 per unit. This funding represents 0.13% of New York state's total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been present in zip code 14904 for over a decade, with projects spanning from 2006 to 2020. The earliest project, McNiff Commons, was completed in 2006, while the most recent, Lafrance Apartments, was finished in 2020. The 2010s saw the most activity, with three out of four projects completed during this decade.
The housing inventory in zip code 14904 consists primarily of one-bedroom units (86), with a small number of efficiencies (1), two-bedroom (1), three-bedroom (8), and four-bedroom (2) units. This distribution suggests a focus on housing for individuals or small families.
One notable project in zip code 14904, Lafrance Apartments, targets populations with serious mental illness, those post-incarceration, and individuals with substance use disorders. This specialized housing addresses the unique needs of vulnerable populations within the community.
Over the past decade, zip code 14904 has experienced a gradual decline in population, from 14,965 in 2017 to 13,556 in 2022. Despite this decrease, the median income has shown some fluctuation, rising from $47,621 in 2017 to $46,727 in 2022, with a peak of $52,558 in 2021.
The racial composition of zip code 14904 has remained relatively stable, with a slight increase in diversity. The white population decreased marginally from 82% in 2017 to 83% in 2022, while the Black population decreased from 7% to 5%. There was a small increase in the Hispanic population (from 2% to 5%) and those identifying as two or more races (from 3% to 6%).
Zip code 14904 in Southport, New York, demonstrates a consistent commitment to affordable housing through LIHTC funding. The affordable housing stock covers a small percentage of the estimated housing inventory, providing crucial support for low-income residents. The area has experienced a gradual population decline and income fluctuations, alongside a slight increase in racial diversity. The LIHTC projects, particularly those targeting specific populations, play an important role in addressing the community's evolving housing needs.
