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Affordable Housing Analysis in Zip Code 15857: LIHTC Funding and Demographic Trends in St. Marys, Pennsylvania
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 15857 in St. Marys, Pennsylvania, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 65 total units, all of which are designated as low-income units. The estimated housing inventory for this zip code, based on the 2022 population of 12,060 and the national average household size of 2.61, is approximately 4,621 units. The LIHTC funded affordable housing covers about 1.41% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 15857 have received $294,531 in project tax credits. With 65 total units, this translates to an average federal funding of approximately $4,531 per unit. This zip code holds 0.05% of the total state LIHTC funding, indicating a relatively small portion of Pennsylvania's affordable housing investment.
The first LIHTC project in this zip code, Townview Apts, was completed in 1991, while the most recent project, Marien Stadt Place, was finished in 2007. This shows that affordable housing has been present in the zip code for at least 16 years. The 1990s saw the most affordable housing projects completed, with two out of the three projects (Townview Apts and Elco Glen Housing) being built during this decade.
The affordable housing inventory in zip code 15857 consists of 8 one-bedroom units and 12 two-bedroom units. The remaining 45 units are not specified by bedroom count in the available data.
Over the last decade, the population in zip code 15857 has shown a slight decline, from 12,316 in 2013 to 12,060 in 2022. However, the median income has increased from $48,412 in 2013 to $56,976 in 2022, indicating a potential improvement in economic conditions.
The racial composition of zip code 15857 has remained predominantly white, with a slight decrease from 98% in 2013 to 94% in 2022. There has been a small increase in racial diversity, with the percentage of residents identifying as two or more races rising from 0% in 2013 to 3% in 2022.
No new LIHTC projects have been built in zip code 15857 in the last decade, which could be attributed to the relatively stable population and increasing median income, potentially reducing the immediate need for additional affordable housing units.
The LIHTC program has contributed to the affordable housing inventory in zip code 15857, providing 65 low-income units across three projects. These units represent a small portion (1.41%) of the estimated housing inventory. The zip code has seen a slight population decline and an increase in median income over the past decade, which may have influenced the lack of new LIHTC projects in recent years. While the racial composition remains predominantly white, there has been a small increase in diversity. The existing LIHTC projects, built between 1991 and 2007, continue to play a role in providing affordable housing options for the community.
