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Affordable Housing Analysis in Zip Code 17403: LIHTC Developments in Grantley, Pennsylvania
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 17403, located in Grantley, Pennsylvania, contains 86 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise 0.54% of the estimated 16,010 housing units in the area, based on the 2022 population of 41,786. The LIHTC projects in this zip code have received $632,026 in tax credits, averaging $7,349 per unit, which represents 0.11% of Pennsylvania's total LIHTC allocation.
Affordable housing development in this zip code began in 1990 with the completion of Hudson Park Towers and concluded in 1997 with Tyler Run Apartments, spanning a 7-year period of LIHTC activity. The 1990s marked the most significant period of affordable housing development in this area. The current inventory primarily consists of 14 one-bedroom units and one two-bedroom unit, indicating a focus on housing for smaller households or individuals.
Over the past decade, zip code 17403 has experienced demographic changes. The population increased from 39,524 in 2015 to 41,786 in 2022, while the median income rose from $64,001 to $67,143 during the same period. Racial demographics shifted, with the white population decreasing from 69% to 61%, the Hispanic population increasing from 13% to 20%, and the Asian population growing from 1% to 3%. The Black population remained relatively stable at 11-12%.
Despite these demographic changes, no new LIHTC projects have been developed in zip code 17403 over the last decade. This lack of recent development may be attributed to factors such as limited available land, changes in local housing policies, or a shift in focus to other affordable housing programs not captured in the LIHTC data.
In summary, zip code 17403 in Grantley, Pennsylvania, features a small but established LIHTC-funded affordable housing inventory, primarily developed during the 1990s. The 86 units, while representing a small portion of the overall housing stock, provide essential affordable options for low-income residents. The area has experienced modest population growth and income increases over the past decade, along with shifts in racial composition. However, these changes have not corresponded with new LIHTC developments in recent years, suggesting that other factors may be influencing affordable housing development in this zip code.
