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Affordable Housing Analysis in Zip Code 17976: Single LIHTC Project Serves Declining Population
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 17976 in Shenandoah, Pennsylvania, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 34 low-income units. The estimated 2,566 housing units in the zip code, based on the 2022 population of 6,698 and the national average household size of 2.61, indicates that LIHTC-funded affordable housing comprises approximately 1.32% of the zip code's estimated housing inventory.
The LIHTC program has allocated $65,785 in tax credits to this zip code, averaging about $1,935 per unit in federal funding. This allocation represents 0.01% of Pennsylvania's total LIHTC funding. The sole LIHTC project in this zip code, Shenandoah Village, was completed in 1993, indicating that affordable housing has been present in the area for nearly three decades. The project consists entirely of 34 one-bedroom units, suggesting a focus on smaller household sizes or individuals.
Over the past decade, zip code 17976 has experienced a significant population decline, decreasing from 7,853 in 2013 to 6,698 in 2022. Despite this decline, the median income has shown an overall upward trend, rising from $29,162 in 2013 to $39,940 in 2022, with some fluctuations in between.
The racial composition of zip code 17976 has also shifted. The white population has decreased from 79% in 2013 to 71% in 2022, while the Hispanic population has grown from 15% to 26% during the same period. The Black population has remained relatively stable at around 1-2%. These demographic changes, particularly the population decline and increasing median income, may partially explain why no additional LIHTC projects have been developed in the area since 1993. The existing project may be meeting the current affordable housing needs of the community, especially given the overall population decrease.
Zip code 17976 has a single LIHTC-funded affordable housing project, Shenandoah Village, which has been serving the community since 1993. While it covers only a small percentage of the estimated housing inventory, the area's demographic trends, including population decline and increasing median income, suggest that the current affordable housing stock may be sufficient for the community's needs. However, the growing Hispanic population and the overall income levels indicate that continued monitoring of affordable housing needs may be necessary to ensure adequate provision for all residents.
