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Affordable Housing Analysis in Manchester, Pennsylvania: Zip Code 17345's LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Manchester, Pennsylvania, zip code 17345, is a small community with a population of 6,643 as of 2022. This area has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with a total of 54 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,545 units, the LIHTC funded affordable housing covers approximately 2.12% of the zip code's housing stock.
The LIHTC program has invested $215,429 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $3,989 per unit. This investment represents 0.04% of the total LIHTC funding allocated to Pennsylvania.
The affordable housing landscape in this zip code is represented by a single project, Poplar Creek Apartments, which was completed in 2000. This project has been providing affordable housing options for over two decades. The development consists of 54 units, including 5 two-bedroom and 4 three-bedroom units, catering to various family sizes within the low-income community.
Over the past decade, the population in this zip code has remained relatively stable, fluctuating between 6,500 and 7,200 residents. The median income has shown an overall upward trend, increasing from $64,609 in 2013 to $69,064 in 2022, with a peak of $76,509 in 2021. This growth in median income might suggest a potential decrease in demand for affordable housing.
Racial demographics have remained predominantly white, though there has been a slight decrease from 92% in 2013 to 85% in 2022. The Hispanic population has shown the most significant increase, rising from 4% in 2013 to 10% in 2022. This demographic shift could potentially influence future affordable housing needs in the area.
The LIHTC program has made a modest but significant contribution to affordable housing in Manchester's 17345 zip code. With 54 low-income units, the program addresses a portion of the area's affordable housing needs. The single project, Poplar Creek Apartments, has been a longstanding fixture in the community since 2000. While the median income has generally increased over the past decade, demographic shifts, particularly the growth in the Hispanic population, may influence future affordable housing requirements. Continued monitoring of these trends will be crucial for addressing the evolving housing needs of this community.
