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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lake Winola, Pennsylvania, zip code 18419, is a rural area with a population of 4,635 as of 2022. This zip code has 39 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all designated as low-income units. These units represent approximately 2.2% of the zip code's estimated 1,776 housing units.
The LIHTC projects in zip code 18419 have received $329,724 in tax credits, averaging $8,454 per unit. This funding comprises 0.06% of Pennsylvania's total LIHTC allocation, indicating a small but significant investment in affordable housing for this rural area. Affordable housing has been present in this zip code for nearly two decades, with the first LIHTC project, Winola View, completed in 2003, followed by Mathewson Park Apartments in 2005.
The LIHTC funded housing inventory in zip code 18419 consists entirely of one-bedroom units, with 24 units in Winola View and 15 units in Mathewson Park Apartments. This composition suggests a focus on accommodating smaller households or individuals in need of affordable housing.
Over the past decade, the population of zip code 18419 has fluctuated, peaking at 5,100 in 2015 and decreasing to 4,635 by 2022. The median income has remained relatively stable, ranging from $57,143 in 2014 to $59,816 in 2021, before slightly decreasing to $57,242 in 2022.
The racial composition of zip code 18419 has seen slight changes. While predominantly white, the percentage of white residents decreased from 95% in 2015 to 89% in 2022. There has been a small increase in racial diversity, with the Black population growing from 2% to 3%, and the Hispanic population from 1% to 3% during this period.
The absence of new LIHTC projects in zip code 18419 over the last decade may be attributed to the relatively stable population and income levels, which may not have indicated a significant increase in demand for additional affordable housing units.
Zip code 18419 in Lake Winola, Pennsylvania, has a modest but important LIHTC funded affordable housing inventory, covering 2.2% of the estimated housing stock. The area received $329,724 in tax credits, focused on two projects completed in the early 2000s, providing 39 one-bedroom units for low-income residents. While the population and income levels have remained relatively stable over the past decade, there has been a slight increase in racial diversity. This analysis provides insight into the affordable housing landscape of this rural Pennsylvania zip code, highlighting the long-term presence of LIHTC funded housing in meeting community needs.