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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 17315 in Weigelstown, Pennsylvania, has a population of 26,146 as of 2022 and covers an area of 60.78 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this area, resulting in a total of 60 affordable units, including 6 designated low-income units. Based on the estimated 10,018 housing units in the zip code, LIHTC-funded affordable housing represents approximately 0.6% of the total housing inventory.
The LIHTC program has invested $474,729 in tax credits for affordable housing projects in this zip code. This amounts to an average federal funding of $7,912 per unit. This zip code accounts for 0.08% of the total LIHTC funding allocated to Pennsylvania.
The LIHTC-funded affordable housing in this zip code has been present since 2004, with the completion of Village Court. This project consists of 60 units, including 44 two-bedroom and 16 three-bedroom apartments. The 2000s saw the most affordable housing development in this area.
Over the past decade, the population in this zip code has grown from 24,520 in 2013 to 26,146 in 2022, an increase of about 6.6%. The median income has fluctuated, rising from $63,720 in 2013 to $67,857 in 2022, representing a 6.5% increase. The racial distribution has remained relatively stable, with the white population consistently comprising around 90% of the total. There has been a slight increase in diversity, with small increases in Asian, Hispanic, and multi-racial populations.
Despite the population growth and income increase, there have been no new LIHTC projects in the last decade. This could suggest that the existing affordable housing stock, combined with other potential affordable housing programs not captured in this data, may be meeting the current needs of the community.
The LIHTC program has made a modest contribution to affordable housing in zip code 17315, with one project providing 60 units, including 6 low-income units. While this represents a small percentage of the estimated housing inventory, it is important to note that other affordable housing programs may also be present in the area. The community has seen steady population growth and income increases over the past decade, with a relatively stable racial composition. The lack of recent LIHTC projects may indicate that current affordable housing needs are being met through existing resources or other programs.