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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 11209 in Brooklyn, New York, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 61 units in LIHTC-funded projects, with 6 designated as low-income units. Based on the 2022 population of 70,876 and the national average household size, the estimated housing inventory in this zip code is 27,156 units. LIHTC-funded affordable housing comprises approximately 0.22% of the estimated housing units in the zip code.
The LIHTC program has invested $205,589 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $3,370 per unit. Zip code 11209 accounts for 1% of the total LIHTC funding allocated to New York state. The Pope John Paul II Senior Apartments, L.P., a significant LIHTC-funded project in this area, was completed in 2007. This project marks the beginning of LIHTC-funded affordable housing in the zip code, indicating at least 15 years of affordable housing presence in the area.
The housing inventory in LIHTC-funded projects in this zip code consists of 11 efficiencies, 49 one-bedroom units, and 1 two-bedroom unit. This distribution suggests a focus on smaller households, potentially catering to seniors or individuals living alone.
Zip code 11209 has experienced demographic shifts over the past decade. The population has remained relatively stable, increasing from 67,260 in 2019 to 70,876 in 2022. Median income has shown an upward trend, rising from $83,828 in 2019 to $83,795 in 2022, with a peak of $90,223 in 2021.
Racial demographics have evolved. The white population has decreased from 64% in 2019 to 60% in 2022, while the Hispanic population has increased from 18% to 20% during the same period. The Asian population has remained stable at around 13-14%, and there has been a slight increase in the Black population and those identifying as two or more races. These demographic shifts, particularly the increasing diversity and fluctuating median income, may influence the ongoing need for affordable housing in the area.
Zip code 11209 in Brooklyn has a modest LIHTC-funded affordable housing presence, covering about 0.22% of the estimated housing units. The area has received significant federal investment through the LIHTC program, accounting for 1% of New York state's allocation. The housing stock is primarily composed of smaller units, potentially catering to specific demographic needs. Population stability, changes in income levels, and racial composition over the past decade may influence future affordable housing needs in this zip code.