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Affordable Housing Analysis in Zip Code 17356: Red Lion'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
Zip code 17356, located in Red Lion, Pennsylvania, contains 8 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. All of these units are designated as low-income. The estimated total housing units in this zip code is 8,411, based on the 2022 population of 21,953 and the national average household size. LIHTC-funded affordable housing represents approximately 0.1% of the estimated housing inventory in zip code 17356.
The LIHTC projects in zip code 17356 have received $150,461 in tax credits, with an average of $18,808 per unit. This funding accounts for 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 this zip code since at least 1999, with the completion of the Charles Street Apartments. The most recent project, Opera House Apartments Phase I, was completed in 2002, suggesting a minimum three-year span of affordable housing development in the area.
The 2000s witnessed the most affordable housing activity in zip code 17356, with both known projects completed during this decade. The inventory comprises 3 one-bedroom units and 5 two-bedroom units, accommodating a variety of smaller households.
The population in zip code 17356 has increased slightly over the past decade, growing from 21,410 in 2015 to 21,953 in 2022. The median income has also risen, from $65,821 in 2015 to $73,171 in 2022, indicating overall economic growth in the area. Racial demographics have remained relatively stable, with a slight decrease in the white population from 92% in 2015 to 89% in 2022, and small increases in other racial groups. The Hispanic population has remained constant at approximately 2-3% during this period.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be attributed to various factors, including the area's rising median income, which might reduce the perceived need for additional affordable housing, or potential changes in local housing policies and priorities.
Zip code 17356 has a small but established LIHTC-funded affordable housing inventory, consisting of 8 units across two projects. While this represents a small fraction of the estimated housing stock, it has provided consistent affordable options for over two decades. The area has experienced modest population growth and income increases in recent years, which may have influenced the lack of new LIHTC developments. Continued assessment of affordable housing needs will be essential to ensure a balanced housing market for all residents in zip code 17356.
