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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 10128, located in Manhattan, New York, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 1,122 total units in LIHTC funded projects, with 387 of these designated as low-income units. Based on the 2022 population of 53,557 and an estimated 20,520 housing units, the LIHTC funded affordable housing covers approximately 5.47% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $122,349,294 in project tax credits, averaging about $109,045 in federal funding per unit. This zip code holds 5.8% of the total state LIHTC funding, indicating a substantial investment in affordable housing for this area.
Affordable housing has been present in this zip code since at least 1995, with the completion of The Brittany project. The most recent project listed, 205 East 92nd Street, was completed in 2016, spanning over two decades of affordable housing development. The 1990s saw the most affordable housing projects completed, with three projects finished during this decade.
The LIHTC funded projects in this zip code offer a diverse range of unit types. Out of the total 1,122 units, there are 111 efficiencies, 422 one-bedroom units, 260 two-bedroom units, 29 three-bedroom units, and 18 four-bedroom units. This distribution suggests a focus on smaller households, with a majority of units being one or two-bedroom apartments.
Over the last decade, the zip code's population has fluctuated, peaking at 58,935 in 2016 and declining to 53,557 by 2022. The median income has shown an overall upward trend, rising from $132,711 in 2013 to $131,797 in 2022, with some fluctuations in between.
Racial distribution has remained relatively stable, with a slight decrease in the white population from 74% in 2013 to 68% in 2022. There has been a small increase in the Hispanic population from 10% to 14%, and the Asian population has remained steady at around 8-9%. The black population has seen a slight increase from 3% to 5% over this period.
Despite the high median income, the presence of LIHTC projects suggests a continued need for affordable housing in this area, possibly to maintain economic diversity within the zip code.
Zip code 10128 in Manhattan has a notable LIHTC funded affordable housing presence, with over 1,100 units developed over more than two decades. While these units cover about 5.47% of the estimated housing inventory, they represent a significant investment of over $122 million in tax credits. The area has maintained a high median income and a relatively stable racial distribution over the past decade, with LIHTC projects potentially contributing to economic diversity in this high-cost urban area.