Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 16242, located in New Bethlehem, Pennsylvania, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This area has 18 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 4,868 and an estimated 1,865 housing units, the LIHTC-funded affordable housing comprises approximately 0.97% of the zip code's estimated housing inventory.
The LIHTC program has provided $52,091 in tax credits for affordable housing projects in zip code 16242. This amount equates to an average federal funding of about $2,894 per unit. Zip code 16242 accounts for 0.01% of the total LIHTC funding allocated to Pennsylvania.
The sole LIHTC project in this area is the South Bethlehem House Apartments, completed in 1996. This development represents both the inception and the current extent of LIHTC-funded affordable housing in the zip code, spanning over 25 years of presence in the community.
All 18 units in the LIHTC-funded project are one-bedroom apartments, indicating a focus on housing for individuals or small households. The project does not have a specified target population, suggesting it may serve a general low-income demographic.
Over the past decade, zip code 16242 has experienced a slight decline in population, from 5,151 in 2013 to 4,868 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $41,697 in 2013 to $48,171 in 2022. This income growth may indicate changing economic conditions in the area.
The racial composition of zip code 16242 has remained predominantly white, consistently above 97% throughout the decade. This stability in demographic makeup suggests that the affordable housing needs have likely remained relatively constant over time.
Zip code 16242 has a single LIHTC-funded affordable housing project that has been serving the community since 1996. While it represents a small portion of the estimated housing inventory, it provides 18 one-bedroom units for low-income residents. The area has experienced modest population decline and income growth over the past decade, with a stable racial composition. These factors, combined with the longstanding presence of the South Bethlehem House Apartments, indicate a consistent, albeit limited, contribution of LIHTC-funded housing to the area's affordable housing needs.