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Port Washington: LIHTC-Funded Affordable Housing and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Port Washington, located on Long Island's North Shore, implements the Low-Income Housing Tax Credit (LIHTC) program for affordable housing. The city's LIHTC-funded inventory comprises 119 total units, with 116 designated as low-income units. This accounts for approximately 1.89% of the estimated 6,300 housing units in the city, based on the 2022 population and national average household size.
Port Washington has received $750,998 in project tax credits for its LIHTC-funded affordable housing. With approximately 2 projects, this translates to an average federal funding of $375,499 per project and $6,311 per unit. The city holds 0.04% of New York State's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
The city's affordable housing development spans over two decades. The first LIHTC project, Main Street School, was completed in 1995, and the most recent, Landmark On Main, was finished in 2016. The 2010s marked the most recent period of affordable housing development for Port Washington.
The LIHTC-funded housing stock in Port Washington consists of 52 efficiencies, 66 one-bedroom units, and 1 two-bedroom unit. This distribution suggests a focus on accommodating smaller households and individuals. The Landmark On Main project, completed in 2016, targets developmentally disabled adults, addressing the specific housing needs of this population.
Port Washington's population has shown slight fluctuations over the past decade, with a general upward trend from 15,841 in 2010 to 16,444 in 2022. The median income has also increased overall, rising from $150,042 in 2013 to $152,487 in 2022, indicating a relatively affluent community.
The racial composition of Port Washington has remained relatively stable, with a predominant white population (74% in 2022). There has been a gradual increase in the Asian population, growing from 5% in 2013 to 11% in 2022. The Hispanic population has fluctuated between 11% and 16% during this period.
The completion of the Landmark On Main project in 2016 coincides with a period of relative stability in the city's demographics, suggesting that the project was developed in response to identified community needs rather than significant demographic shifts.
Port Washington's LIHTC-funded affordable housing inventory plays a crucial role in providing housing options for low-income residents and specific populations such as developmentally disabled adults. The city's involvement in the LIHTC program spans over two decades, demonstrating a long-term commitment to affordable housing. Despite the city's overall affluence, as evidenced by high median incomes, the presence of LIHTC projects indicates an effort to maintain economic diversity and address the housing needs of various segments of the population.
