Affordable Housing Analysis in Zip Code 15905: LIHTC-Funded Roxbury Place
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 15905, located in Westmont, Pennsylvania, contains 43 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units represent approximately 0.57% of the estimated 7,502 total housing units in the zip code. The LIHTC program has invested $1,048,699 in tax credits for affordable housing projects in this area, averaging $24,388 per unit. This investment accounts for 0.18% of the total LIHTC funding allocated to Pennsylvania.
The sole LIHTC-funded project in zip code 15905 is Roxbury Place, completed in 2019. This development consists of 43 units, comprising 32 one-bedroom and 11 two-bedroom apartments. The unit distribution suggests a focus on accommodating individuals or small families seeking affordable housing options.
Demographic trends in zip code 15905 indicate a slight population decline from 20,816 in 2010 to 19,579 in 2022. The median income has generally increased from $56,382 in 2013 to $61,858 in 2022. The area's racial composition has remained predominantly white (93% in 2022), with small increases in Black, Hispanic, and multiracial populations.
The introduction of the LIHTC-funded project in 2019 aligns with these demographic trends, potentially responding to the need for affordable housing options in a changing economic landscape. The upward trend in median income might suggest a growing need for affordable housing for lower-income residents facing increased housing costs.
The analysis of zip code 15905 reveals a nascent LIHTC-funded affordable housing presence. While the 43 units represent a small fraction of the estimated housing inventory, they mark a significant step in addressing affordable housing needs in the area. The recent completion of Roxbury Place in 2019 suggests a growing recognition of affordable housing requirements in this community.
As the area continues to evolve, monitoring demographic trends will be crucial in assessing and meeting future affordable housing needs in zip code 15905. The gradual demographic shifts and economic changes may influence future affordable housing planning and development in this Pennsylvania community.
