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Affordable Housing Investment in Zip Code 10710: A Recent LIHTC Project in Yonkers
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 10710 in Yonkers, New York, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing presence. The area contains 279 total units in LIHTC funded projects, with 274 of these designated as low-income units. Based on the estimated 10,294 housing units in the zip code, LIHTC funded affordable housing represents approximately 2.7% of the total housing inventory.
The LIHTC program has invested substantially in this zip code, with project tax credits totaling $9,588,100. This translates to an average federal funding of about $34,366 per unit. Notably, this zip code accounts for 0.45% of the total LIHTC funding allocated to New York State, indicating a significant concentration of affordable housing investment in this area.
The sole LIHTC project in this zip code, Curran Court, was completed in 2019. This recent development suggests a growing focus on affordable housing in the area. The project primarily consists of one-bedroom units (247), with a small number of larger units: 2 two-bedrooms, 8 three-bedrooms, and 4 four-bedrooms.
Over the past decade, the zip code has experienced fluctuations in population, with a slight overall increase from 25,596 in 2010 to 26,867 in 2022. The median income has remained relatively stable, hovering around $100,000 per year.
Racial demographics have shifted noticeably. The white population has decreased from 54% in 2013 to 38% in 2022, while Hispanic and Black populations have increased. The Hispanic population grew from 18% to 28%, and the Black population from 13% to 17% during this period. These demographic changes may have influenced the decision to develop affordable housing in the area.
Zip code 10710 in Yonkers has seen a recent investment in LIHTC funded affordable housing, with the completion of Curran Court in 2019. While the 274 low-income units represent a small percentage of the estimated housing inventory, they signify a substantial commitment to affordable housing in the area. The demographic shifts observed over the past decade, including increased racial diversity and stable high median incomes, provide context for the development of these affordable housing units. This LIHTC investment represents an important step in addressing affordable housing needs in this zip code.
