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Affordable Housing Analysis in Zip Code 17921: A Single LIHTC Project Serving Ashland, Pennsylvania Since 1995
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 17921, located in Ashland, Pennsylvania, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, named Centre Street Court, comprises 35 units, all of which are designated as low-income units. The estimated housing inventory for this zip code is approximately 3,434 units, based on the 2022 population of 8,964 and the national average household size of 2.61. The LIHTC-funded affordable housing represents about 1.02% of the estimated housing inventory in this zip code.
The LIHTC project in zip code 17921 received $88,752 in tax credits, averaging $2,536 per unit in federal funding. This funding constitutes 0.01% of the total LIHTC credits allocated to Pennsylvania, indicating a minimal portion of the state's affordable housing investment. Centre Street Court, the sole LIHTC project in this zip code, was completed in 1995, suggesting the presence of affordable housing in the area for nearly three decades. No new LIHTC developments have been added since the mid-1990s.
All 35 units in the Centre Street Court project are one-bedroom apartments, indicating a focus on housing for individuals or small households. The project does not specify a target population, suggesting it may serve a general low-income demographic.
Zip code 17921 has experienced a slight population decline over the past decade, from 9,390 in 2013 to 8,964 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $44,974 in 2013 to $51,221 in 2022. This increase in median income may partially explain the lack of new LIHTC developments in recent years.
The racial composition of zip code 17921 has remained relatively stable. The white population decreased slightly from 86% in 2013 to 84% in 2020, while the Black population increased from 5% to 9% over the same period. The Hispanic population has remained relatively constant at around 4-5%.
The 17921 zip code area has a single LIHTC-funded affordable housing project that has served the community since 1995. This project provides 35 low-income units, representing a small percentage of the estimated housing inventory. The area has experienced a slight population decline and an increase in median income over the past decade, potentially influencing the perceived need for additional affordable housing. The racial demographics have remained relatively stable, with minor shifts in the white and Black populations. Given the age of the existing LIHTC project and the changing demographics, a reassessment of current affordable housing needs in zip code 17921 may be warranted to ensure it continues to meet the community's evolving requirements.
