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Affordable Housing Analysis in Zip Code 16365: North Warren's LIHTC Developments
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Affordable Housing in Zip Code 16365: North Warren's LIHTC Developments North Warren, Pennsylvania, located in zip code 16365, exhibits a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 42 total units in LIHTC-funded projects, with 25 designated as low-income units. Based on the 2022 population of 17,603 and using the national average household size, an estimated 6,744 housing units exist in the zip code. LIHTC-funded affordable housing comprises approximately 0.62% of the estimated housing inventory in this area.
The LIHTC program has invested $203,687 in tax credits for affordable housing projects in zip code 16365. This equates to an average federal funding of $4,850 per unit. This zip code holds 0.03% of Pennsylvania's total LIHTC funding, indicating a small but notable contribution to the state's affordable housing efforts.
Affordable housing development in zip code 16365 spans 15 years, with the first LIHTC project, Buchanan Court, completed in 1990, and the most recent, Allegheny Pointe, finished in 2005. The 2000s witnessed the most affordable housing development activity in this area.
LIHTC-funded projects in zip code 16365 offer a mix of unit types, with 8 one-bedroom and 16 two-bedroom units. This distribution suggests a focus on accommodating small families and individuals. No efficiency units or larger (three or four-bedroom) units are reported in these projects.
Over the last decade, zip code 16365 experienced a slight population decline, from 18,122 in 2015 to 17,603 in 2022. Despite this decrease, the median income showed an upward trend, rising from $46,017 in 2015 to $54,505 in 2022. This increase in median income may partially explain the lack of new LIHTC projects in recent years.
The racial composition of zip code 16365 has remained relatively stable, with the white population consistently representing about 96-97% of residents. A slight increase in diversity has occurred, with small increases in Black, Hispanic, and multiracial populations, though these changes are minimal.
Zip code 16365 demonstrates a modest LIHTC-funded affordable housing presence, with projects dating back to 1990. While the affordable housing stock represents a small percentage of the estimated total housing units, it provides important options for low-income residents. The area has experienced demographic shifts, including a slight population decrease and rising median income, which may influence future affordable housing needs. The stability in racial composition suggests consistent community characteristics over time. As the community evolves, ongoing assessment of affordable housing needs will be crucial to ensure appropriate housing options for all residents.
