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Affordable Housing Analysis in Zip Code 17050: New Kingstown's LIHTC Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
New Kingstown, located in zip code 17050 of Pennsylvania, contains 210 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units constitute 1.37% of the estimated 15,290 total housing units in the zip code. All 210 units are designated as low-income units.
The LIHTC projects in zip code 17050 have received $2,055,161 in project tax credits, averaging $9,786 per unit in federal funding. This represents 0.34% of Pennsylvania's total LIHTC funding allocation. The affordable housing in this zip code spans over two decades, with the first LIHTC project, Roth Village, completed in 1998, and the most recent, Shepherds Crossing, finished in 2015.
The LIHTC-funded housing in zip code 17050 offers a variety of unit types: 94 one-bedroom, 84 two-bedroom, and 32 three-bedroom units. This distribution accommodates diverse household sizes, from individuals to small families.
Zip code 17050 experienced steady population growth from 31,803 in 2013 to 39,907 in 2022. During this period, median income fluctuated between $94,696 and $107,149. The racial composition became more diverse, with the white population decreasing from 87% in 2013 to 75% in 2022, while the Asian population increased from 5% to 15%.
The completion of Shepherds Crossing in 2015 coincides with this period of population growth and increasing diversity, suggesting a response to changing housing needs. However, the relatively small number of LIHTC units compared to the population growth indicates that other housing options or programs may also be addressing the area's needs.
Zip code 17050 has maintained a consistent, albeit limited, inventory of LIHTC-funded affordable housing over the past two decades. While these 210 units represent a small portion of the total estimated housing stock, they provide essential low-income housing options in an area with high median incomes. The distribution of unit sizes and the timing of project completions reflect efforts to meet evolving community needs amidst population growth and increasing diversity. The continued investment in affordable housing through the LIHTC program, as evidenced by the 2015 project, demonstrates an ongoing commitment to maintaining affordable options in this growing and changing community.
