Affordable Housing Analysis in Zip Code 17022: Elizabethtown's LIHTC Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 17022, located in Elizabethtown, Pennsylvania, had a population of 31,652 as of 2022 and covers 54.82 square miles. This zip code contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 69 low-income units across two projects. The estimated housing inventory of 12,127 units indicates that LIHTC funded affordable housing comprises approximately 0.57% of the zip code's housing stock.
The LIHTC program has invested $335,135 in tax credits for affordable housing projects in zip code 17022. This equates to an average federal funding of $4,856 per unit. This zip code accounts for 0.06% of the total state LIHTC funding, representing a small but notable contribution to Pennsylvania's affordable housing initiatives.
The initial LIHTC project in zip code 17022, Park Place Apts, was completed in 1987, while the most recent project, Whistlestop View Apts, was finished in 1998. This indicates that affordable housing has been present in the area for over three decades. The 1990s experienced the most affordable housing development activity in this zip code.
The LIHTC funded projects in zip code 17022 primarily consist of one-bedroom units (61) and two-bedroom units (8). This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, zip code 17022 has experienced steady population growth, increasing from 29,781 in 2013 to 31,652 in 2022. The median income has also shown an upward trend, rising from $67,531 in 2013 to $71,617 in 2022, with some fluctuations in between.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 94% in 2013 to 89% in 2022. There has been a small increase in diversity, with slight growth in Hispanic, Black, and Asian populations.
Despite the population growth and income increases, no new LIHTC projects have been recorded in zip code 17022 in the last decade. This could be due to various factors, including changes in local housing policies, shifts in funding priorities, or the possibility that other affordable housing programs are meeting the area's needs.
Zip code 17022 in Elizabethtown has an established LIHTC funded affordable housing inventory, with 69 low-income units across two projects. This represents a small percentage of the estimated housing stock but demonstrates a commitment to affordable housing dating back to the late 1980s. The area has seen steady population growth and income increases over the past decade, along with slight increases in racial diversity. However, the absence of recent LIHTC projects suggests that affordable housing needs may be addressed through other means or that priorities have shifted in recent years.
