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Affordable Housing Analysis in Hershey, Pennsylvania: Zip Code 17036's LIHTC Inventory
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 17036 in Hershey, Pennsylvania, known for its chocolate heritage, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 217 total units in LIHTC funded projects, with 98 designated as low-income units. Based on the estimated 9,616 housing units in the zip code, LIHTC funded affordable housing comprises approximately 2.26% of the total housing inventory.
The LIHTC projects in zip code 17036 have received $1,437,024 in project tax credits, averaging about $6,622 per unit. This funding represents 0.24% of Pennsylvania's total LIHTC allocation, indicating a small but significant investment in affordable housing for the area.
Affordable housing has been present in this zip code for over two decades. The first LIHTC project, Waterford At Summit View, was completed in 1999, while the most recent, Rutherford Park, was finished in 2011. The 2010s saw the most recent affordable housing development in this area.
The LIHTC funded projects offer a mix of housing options, with 115 two-bedroom and 102 three-bedroom units. This distribution suggests a focus on accommodating families and larger households.
Over the past decade, the population in zip code 17036 has shown a slight upward trend, growing from 24,408 in 2013 to 25,097 in 2022. The median income has also increased, rising from $90,514 in 2013 to $92,154 in 2022, with a peak of $98,362 in 2021. This steady income growth might indicate a reduced need for additional affordable housing in recent years.
The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 88% in 2013 to 80% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 2% to 7% and the Asian population from 5% to 7% during this period.
Zip code 17036 in Hershey, Pennsylvania, has a modest LIHTC funded affordable housing inventory, covering about 2.26% of the estimated housing units. The area has seen two LIHTC projects completed over a 12-year span, providing a mix of two and three-bedroom units. While the population and median income have shown gradual increases over the past decade, there has also been a slight shift towards greater racial diversity. These demographic trends, particularly the rising median income, may have influenced the pace of affordable housing development in recent years.
