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Affordable Housing Analysis in Zip Code 17554: Examining LIHTC Impact in Mountville, 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 17554 in Mountville, Pennsylvania, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 76 total units in LIHTC funded projects, with 13 designated as low-income units. Based on the 2022 population of 6,012 and the national average household size, there are an estimated 2,303 housing units in this zip code. LIHTC funded affordable housing covers approximately 3.3% of the estimated housing inventory in the area.
The LIHTC program has invested significantly in this zip code, with project tax credits totaling $1,161,543. This translates to an average federal funding of about $15,283 per unit in LIHTC funded projects. Zip code 17554 accounts for 0.19% of the total LIHTC funding allocated to Pennsylvania.
Affordable housing has been part of this community for over two decades. The first LIHTC project, Summit Hills, was completed in 1997, while the most recent, Manor Heights, was finished in 2006. The 2000s saw the most development activity, with Manor Heights being the larger of the two projects, providing 70 units.
The housing mix in LIHTC funded projects in this zip code is primarily composed of two-bedroom and three-bedroom units. There are 40 two-bedroom units and 36 three-bedroom units, suggesting a focus on accommodating families or households with multiple members.
Over the past decade, the population in this zip code has shown overall growth, increasing from 5,630 in 2013 to 6,012 in 2022. The median income has fluctuated but generally trended upward, rising from $70,700 in 2013 to $71,380 in 2022, with a peak of $83,660 in 2021.
The racial composition of the area has remained relatively stable, with the white population consistently representing the majority, ranging from 76% to 82% over the past decade. The Hispanic population has shown a slight increase, from 10% in 2013 to 13% in 2022. Other racial groups have maintained relatively consistent percentages.
No new LIHTC projects have been developed in the last decade. The demographic trends suggest a growing population with rising incomes. This could indicate a potential need for additional affordable housing options in the future, especially considering the consistent presence of diverse racial groups in the community.
Zip code 17554 has benefited from LIHTC investment, with two projects providing 76 units of affordable housing. These projects represent a small but significant portion of the area's estimated housing inventory. The LIHTC funding has been substantial, accounting for nearly 0.2% of Pennsylvania's total allocation. The existing LIHTC projects, with their mix of two and three-bedroom units, appear to cater to families and larger households, aligning with the community's demographic profile.
