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Affordable Housing Analysis in Hershey, Pennsylvania Zip Code 17033: A Single LIHTC Project's Impact
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 17033 in Hershey, Pennsylvania, home to chocolate-themed attractions and The Hershey Company headquarters, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 60 units, with 6 designated as low-income units. The LIHTC funded housing represents about 0.95% of the estimated 6,323 housing units in the zip code.
The LIHTC project in zip code 17033 received $377,656 in tax credits, averaging approximately $6,294 per unit. This funding constitutes 0.06% of Pennsylvania's total LIHTC allocation, indicating a small portion of the state's affordable housing investment in this area.
Willow Ridge, the sole LIHTC project in this zip code, was completed in 1999. It has provided affordable housing options for over two decades. The project consists of 45 two-bedroom units and 15 three-bedroom units, accommodating various family sizes within the community.
The population in zip code 17033 has grown moderately from 15,810 in 2013 to 16,504 in 2022. The median income increased from $65,879 in 2013 to $73,803 in 2022, suggesting improved economic conditions.
Racial demographics have remained relatively stable. The white population decreased slightly from 83% in 2013 to 76% in 2022. Diversity increased modestly, with the Hispanic population growing from 6% to 11% during this period. The Asian population remained consistent at around 4-5%.
No new LIHTC projects have been developed in the last decade, possibly due to the area's rising median income, which may indicate reduced need for additional affordable housing units.
Zip code 17033 in Hershey, Pennsylvania, contains a single LIHTC funded affordable housing project serving the community since 1999. This project provides 60 units, with a small percentage designated as low-income units. The area has experienced moderate population growth, increasing median income, and a slight increase in racial diversity over the past decade. The absence of new LIHTC developments in recent years may reflect the changing economic landscape of the area.
