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Affordable Housing Analysis in Zip Code 15045: LIHTC Impact 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
Zip code 15045, located in Glassport, Pennsylvania, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 55 total units in LIHTC-funded projects, with 46 designated as low-income units. Based on the estimated 1,719 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 3.2% of the area's housing inventory.
The LIHTC program has invested $1,200,000 in tax credits in this zip code. This equates to an average federal funding of $21,818 per unit. This investment represents 0.2% of Pennsylvania's total LIHTC funding allocation, indicating a significant commitment to affordable housing in this area.
The Retirement Residence Glassport, completed in 2018, is a notable LIHTC project in zip code 15045. This development consists of 55 units, including 2 efficiencies, 49 one-bedroom, and 4 two-bedroom apartments. The project's focus on smaller units suggests it may cater to single individuals or small families.
Zip code 15045 has experienced demographic shifts over the past decade that may correlate with LIHTC housing development. The population has remained relatively stable, decreasing slightly from 4,611 in 2010 to 4,487 in 2022. The median income has increased from $39,408 in 2013 to $48,183 in 2022, potentially indicating changing economic conditions in the area.
Racial demographics in zip code 15045 have also changed. The white population remains predominant but has decreased from 95% in 2013 to 86% in 2022. There have been modest increases in Black, Hispanic, and multi-racial populations. This growing diversity might reflect changing housing needs and could be a factor in the development of affordable housing options.
The LIHTC program has made a notable impact in zip code 15045, providing 55 affordable housing units with a $1.2 million investment. While this covers a small percentage of the estimated housing inventory, it represents a significant contribution to affordable housing options in the area. The completion of the Retirement Residence Glassport in 2018 marked a substantial addition to the affordable housing stock, potentially responding to changing demographic trends in the area, including a slight increase in population diversity and rising median incomes. These developments suggest an ongoing effort to address affordable housing needs in this Pennsylvania community.
