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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 17020, located in Duncannon, Pennsylvania, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 28 units. This zip code covers 58.01 square miles and had a population of 9,410 in 2022. The LIHTC funded affordable housing represents approximately 0.78% of the estimated 3,605 housing units in the area.
The LIHTC program has provided $43,290 in tax credits for affordable housing projects in zip code 17020. This amounts to an average federal funding of $1,546 per unit. The zip code accounts for 0.01% of the total state LIHTC funding. The affordable housing inventory in this zip code consists of a single project, Susquehanna Apts, completed in 1995.
All 28 units in the LIHTC funded project are one-bedroom apartments. The project does not have a specific target population listed. This housing has been providing affordable options in the area for over 25 years.
The population of zip code 17020 has shown slight fluctuations over the past decade, with a minor overall increase from 9,414 in 2015 to 9,410 in 2022. The median income has demonstrated a significant upward trend, rising from $61,997 in 2015 to $78,298 in 2022, indicating improved economic conditions for residents.
The racial composition of zip code 17020 has remained relatively stable. The white population has consistently represented the majority at approximately 95-96% throughout the decade. There has been a slight increase in the Hispanic population, growing from 1% in 2015 to 2% in 2022.
Despite the rising median income, no new LIHTC projects have been developed in zip code 17020 over the last decade. This could suggest that the existing affordable housing stock has been sufficient to meet the needs of the low-income population in this area. Alternatively, it may indicate that other housing programs or market-rate affordable options are addressing housing needs for lower-income residents.
Zip code 17020 in Duncannon, Pennsylvania, has a modest LIHTC funded affordable housing inventory, consisting of 28 one-bedroom units in a single project completed in 1995. This represents a small portion of the estimated housing stock but has provided consistent affordable housing options for over two decades. The area has experienced rising median incomes and a stable racial composition over the past ten years, with no new LIHTC projects during this period. This analysis provides insight into the role of LIHTC funded housing in zip code 17020, though other affordable housing programs may also be contributing to meeting the area's housing needs.