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Affordable Housing Analysis in Zip Code 15943: A Unique LIHTC Project in Nanty-Glo
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 15943 in Nanty-Glo, Pennsylvania, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as Nanty Glo House, was completed in 1991 and comprises 36 low-income units. Based on the 2022 population of 3,631 and the national average household size, the estimated housing inventory in this zip code is approximately 1,391 units. The LIHTC funded affordable housing covers about 2.59% of the estimated housing units in the zip code.
The LIHTC program has invested $70,578 in tax credits for affordable housing projects in this zip code, which represents 0.01% of Pennsylvania's total LIHTC funding. This translates to an average federal funding of $1,960.50 per unit. Nanty Glo House has been providing affordable housing in the zip code for over three decades.
Nanty Glo House consists of 36 units, including 3 one-bedroom and 6 two-bedroom units. The project does not have any specified target population, suggesting it may serve a diverse range of low-income residents.
Over the past decade, zip code 15943 has experienced fluctuations in population, with a general downward trend from 4,073 in 2010 to 3,631 in 2022. The median income has shown some variability, rising from $39,294 in 2013 to $40,617 in 2022. The racial composition has remained predominantly white, consistently around 97-98% throughout the decade.
Despite these demographic changes, there have been no new LIHTC projects in the area since 1991. This could be due to various factors, including limited population growth or changes in housing needs that may not align with LIHTC program requirements.
Zip code 15943 has a single LIHTC funded affordable housing project that has been serving the community for over 30 years. While the project provides 36 low-income units, it covers a relatively small percentage of the estimated housing inventory. The area has experienced slight population decline and income fluctuations over the past decade, with a stable racial composition. The lack of new LIHTC projects in recent years may reflect changing housing needs or other socioeconomic factors in the community.
