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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 16028, located in East Brady, Pennsylvania, contains a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code has 78 affordable units, all of which are designated as low-income units. Covering an area of 15.4 square miles, zip code 16028 had an estimated population of 1,800 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 690 units. The LIHTC-funded affordable housing units represent about 11.3% of the estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC program has invested $755,191 in tax credits for affordable housing projects in zip code 16028. This translates to an average federal funding of approximately $9,682 per unit. This investment represents 0.13% of the total LIHTC funding allocated to Pennsylvania, demonstrating a focused effort to address affordable housing needs in this specific area.
The zip code's LIHTC-funded affordable housing inventory consists of one project, East Brady Heights, which was completed in 2008. This project has been providing affordable housing options in the area for over a decade. The unit distribution in East Brady Heights includes 73 one-bedroom units and 5 two-bedroom units, catering primarily to smaller households or individuals.
Over the past decade, zip code 16028 has experienced some demographic shifts that may correlate with the presence of LIHTC-funded housing. The population has fluctuated, showing a general decline from 1,924 in 2013 to 1,800 in 2022. Despite this overall decrease, there was a slight uptick in population between 2020 and 2022.
Median income in the area has shown an upward trend, increasing from $39,405 in 2013 to $48,888 in 2022. This rise in median income could potentially indicate an improving economic situation for some residents, while still highlighting the continued need for affordable housing options.
Racial demographics have remained relatively stable, with the white population consistently representing the majority (93% in 2022). There has been a slight increase in diversity, with small increases in the Black, Hispanic, and multi-racial populations over the past decade.
The analysis of LIHTC-funded affordable housing in zip code 16028 reveals a significant investment in addressing low-income housing needs. With 78 units representing about 11.3% of the estimated housing inventory, the LIHTC program has made a substantial contribution to affordable housing in the area. The single project, East Brady Heights, completed in 2008, has been a long-standing resource for affordable housing in the community.
Despite a slight population decline over the past decade, the area has seen an increase in median income. This economic shift, coupled with the stable presence of LIHTC-funded housing, suggests a continued need for affordable options in a changing economic landscape. The demographic data indicates a predominantly white population with slight increases in diversity, which may influence future affordable housing needs and strategies in zip code 16028.