Affordable Housing Analysis in Zip Code 15215: LIHTC Funding and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 15215 in Fox Chapel, Pennsylvania, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 139 total units, with 138 designated as low-income units. Based on the 2022 population of 12,334 and an estimated 4,726 housing units, the LIHTC funded affordable housing comprises approximately 2.94% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 15215 have received $919,303 in project tax credits, averaging $6,613 per unit. This funding represents 0.15% of Pennsylvania's total LIHTC allocation. The area has experienced LIHTC-funded affordable housing development from 2004 to 2019, indicating a 15-year presence of such projects.
The 2010s witnessed the most significant affordable housing development, with the completion of Sharpsburg Towers in 2019. This project added 103 units, all of which are one-bedroom apartments, substantially expanding the affordable housing options in the area.
The affordable housing inventory in zip code 15215 consists primarily of one-bedroom units (111), followed by two-bedroom (15) and three-bedroom (13) units. This distribution indicates a focus on housing for smaller households and potentially seniors.
Over the past decade, the population in zip code 15215 has remained relatively stable, fluctuating between 12,200 and 12,600 residents. The median income has experienced slight variations, ranging from about $87,600 to $94,600, indicating a generally affluent area.
Racial demographics show a predominantly white population, consistently around 88-90% throughout the decade. However, there has been a slight increase in diversity, with the Asian population growing from 4% to 6% and the Black population increasing from 1% to 4% between 2013 and 2022.
The completion of Sharpsburg Towers in 2019 coincides with a period of relative stability in population and income levels, suggesting that the project may have been developed to address specific housing needs within the community, possibly for seniors or lower-income individuals in an otherwise affluent area.
The LIHTC program has contributed to the affordable housing stock in zip code 15215, with two projects providing 139 units over a 15-year period. While this represents a small percentage of the overall housing inventory, it demonstrates ongoing efforts to incorporate affordable options in a predominantly affluent area. The focus on one-bedroom units in the most recent project suggests attention to changing demographic needs or specific populations within the community. The gradual increase in racial diversity, coupled with stable population and income levels, may influence future affordable housing strategies in this zip code.
