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Affordable Housing Analysis in Zip Code 16025: Chicora Commons' Impact on Chicora, 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 16025, located in Chicora, Pennsylvania, contains 27 low-income units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units represent approximately 1.43% of the estimated 1,892 housing units in the area, based on the 2022 population of 4,939.
The LIHTC program has allocated $181,046 in tax credits to zip code 16025 for affordable housing projects. This allocation amounts to an average federal funding of $6,705 per unit. The zip code's share of Pennsylvania's total LIHTC funding is 0.03%, indicating a relatively small portion of the state's affordable housing resources.
Chicora Commons, completed in 2000, is the sole LIHTC-funded project in zip code 16025. This development has provided affordable housing options for over two decades. All 27 units in Chicora Commons are one-bedroom apartments, suggesting a focus on smaller household sizes or individual residents.
The population of zip code 16025 has experienced a gradual decline over the past decade, decreasing from 5,533 in 2014 to 4,939 in 2022. Despite this population decrease, the median income has shown an overall upward trend, rising from $56,215 in 2014 to $65,511 in 2022. This increase in median income may indicate changing economic conditions in the area.
The racial composition of zip code 16025 has remained relatively stable, with a slight decrease in the white population from 98% in 2014 to 95% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 0% to 2% during this period.
The LIHTC program has contributed to the affordable housing inventory in zip code 16025 through Chicora Commons, which has served the community for over 20 years. While the LIHTC-funded units represent a small percentage of the estimated housing inventory, they provide 27 one-bedroom units for low-income residents. The area has experienced a slight population decline and increased median income over the past decade, which may influence future affordable housing needs. The racial composition has remained predominantly white, with a small increase in diversity. These demographic trends and the existing LIHTC inventory provide insights for future affordable housing planning in zip code 16025.
