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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 17070, encompassing New Cumberland in Pennsylvania, has a population of 17,266 as of 2022. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in this zip code consists of 9 total units, all of which are designated as low-income units. Based on the estimated 6,615 housing units in the zip code, LIHTC funded affordable housing covers approximately 0.14% of the total housing inventory.
The LIHTC projects in zip code 17070 have received $209,038 in tax credits, averaging about $23,226 per unit. This funding represents 0.03% of Pennsylvania's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
Affordable housing has been present in zip code 17070 since 1988, with the completion of the School House Apts project. The most recent project, New Cumberland Senior Housing, was completed in 2011, spanning over two decades of affordable housing development in the area. The 1980s saw the most affordable housing activity in this zip code.
The affordable housing inventory in zip code 17070 consists primarily of two-bedroom units (7), with one one-bedroom unit and one three-bedroom unit. This distribution suggests a focus on accommodating small families or couples.
Over the past decade, the population in zip code 17070 has grown from 16,323 in 2013 to 17,266 in 2022, indicating a steady increase in residents. The median income has also risen, from $79,822 in 2013 to $81,532 in 2022, with a notable spike to $90,454 in 2021.
Racial demographics have shown slight shifts, with the white population decreasing from 92% in 2013 to 85% in 2022. There have been small increases in Asian, Black, and Hispanic populations, with the Hispanic population growing the most, from 3% to 9% during this period.
The lack of new LIHTC projects since 2011 could be attributed to the rising median income and relatively stable population growth, potentially indicating a reduced need for additional low-income housing in recent years.
Zip code 17070 in New Cumberland, Pennsylvania, has a small LIHTC funded affordable housing inventory, covering less than 1% of the estimated housing units. The area has seen two LIHTC projects developed over two decades, with the most recent completed in 2011. While the population has grown slightly and become more diverse over the past decade, the rising median income might suggest a changing economic landscape. The limited LIHTC activity in recent years could indicate that other forms of housing are meeting the area's needs or that priorities for affordable housing development have shifted to other locations within the state.