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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 80246 in Denver, Colorado, exhibits a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 275 total units in LIHTC-funded projects, with 250 designated as low-income units. Based on the 2022 population of 12,837 and an estimated 4,918 housing units, the LIHTC-funded affordable housing represents approximately 5.6% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 80246 have received $4,402,993 in tax credits, averaging about $16,011 per unit across all LIHTC-funded projects. This zip code holds 1% of Colorado's total LIHTC funding, indicating a significant investment in affordable housing for this area.
Affordable housing has been present in zip code 80246 for at least two decades. The first recorded LIHTC project, Forest Manor Apartments, was completed in 2002, while the most recent project, Kentucky Circle Village, was finished in 2017. The 2010s saw the most recent affordable housing development activity in this area.
The LIHTC-funded housing in zip code 80246 primarily consists of one-bedroom units (176), followed by two-bedroom units (33), and a small number of efficiencies (12). This unit distribution suggests a focus on housing for individuals or small families.
Over the past decade, zip code 80246 has experienced some demographic shifts. The population has remained relatively stable, with a slight increase from 12,413 in 2010 to 12,837 in 2022. Median income has shown a significant upward trend, rising from $54,063 in 2013 to $69,945 in 2022, a 29% increase.
Racial distribution in zip code 80246 has also evolved. The white population decreased slightly from 65% in 2013 to 62% in 2022. The Hispanic population decreased from 22% to 18%, while the Black population increased from 5% to 11%. The Asian population remained relatively stable at 2-3%.
The completion of Kentucky Circle Village in 2017 aligns with the period of increasing median income and shifting racial demographics in zip code 80246, possibly responding to changing housing needs in the area.
Zip code 80246 in Denver has a modest but significant LIHTC-funded affordable housing presence, covering about 5.6% of the estimated housing inventory. The area has seen consistent investment in affordable housing over two decades, with the most recent project completed in 2017. The housing stock is primarily composed of one-bedroom units, suggesting a focus on smaller households. Despite rising median incomes and demographic shifts, the continued presence of LIHTC projects indicates an ongoing need for affordable housing options in this zip code.