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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lake Meade, Pennsylvania, zip code 17316, has a population of 8,929 as of 2022. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in this area consists of 19 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 3,421 units for the zip code, the LIHTC funded affordable housing covers approximately 0.56% of the area's housing stock.
The LIHTC projects in zip code 17316 have received $40,851 in project tax credits. This translates to an average federal funding of $2,150 per unit. The zip code accounts for 0.01% of the total state funding for LIHTC projects in Pennsylvania.
The affordable housing in this zip code is represented by a single project, East Berlin Manor Apartments, which was completed in 2003. This project has been providing affordable housing options in the area for nearly two decades.
East Berlin Manor Apartments consists of 19 units, with a mix of one-bedroom and two-bedroom apartments. Specifically, there are 3 one-bedroom units and 16 two-bedroom units, catering to different household sizes and needs within the low-income community.
Over the last decade, the population in zip code 17316 has remained relatively stable, with minor fluctuations. The median income has shown an overall upward trend, increasing from $68,257 in 2013 to $81,590 in 2022. This rise in median income might suggest a growing need for affordable housing options to support lower-income residents who may be facing increased housing costs.
The racial demographics of the area have remained predominantly white, with a slight increase in diversity over the years. The Hispanic population has grown marginally from 1% in 2013 to 3% in 2022, while the percentage of residents identifying as two or more races has increased from less than 1% to 2% during the same period.
The LIHTC funded affordable housing in zip code 17316 consists of a single project, East Berlin Manor Apartments, providing 19 low-income units. While this represents a small portion of the area's total housing stock, it has been a consistent source of affordable housing since 2003. The area has experienced a gradual increase in median income and slight growth in racial diversity over the past decade, which may influence future affordable housing needs in the community.