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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 18032, located in Catasauqua, Pennsylvania, has a population of 8,982 as of 2022 and spans 1.97 square miles. This area has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with a total of 50 units, all designated as low-income units. Based on the estimated housing inventory of 3,441 units, the LIHTC funded affordable housing covers approximately 1.45% of the zip code's housing stock.
The LIHTC projects in this zip code have received $474,504 in tax credits, which translates to an average of $9,490 per unit in federal funding. This funding represents 0.08% of the total state LIHTC allocation, indicating a modest investment in affordable housing for this area.
The affordable housing presence in this zip code dates back to 1990, with the completion of Catasaugua Apts and Fire House Apts. The most recent project, North Catasauqua Street Apts, was completed in 1995, showing a span of at least five years of affordable housing development in the area. The 1990s saw the most affordable housing projects completed in this zip code.
The LIHTC funded housing inventory in this zip code consists primarily of one-bedroom units, with 40 such units available. Additionally, there are 3 two-bedroom units and 2 three-bedroom units, providing some options for families of different sizes.
Over the past decade, the zip code has experienced a slight population growth, increasing from 8,716 in 2013 to 8,982 in 2022. During this period, the median income has risen from $52,926 in 2013 to $68,130 in 2022, indicating an overall improvement in economic conditions.
The racial composition of the zip code has shown changes. The white population remains the majority but has decreased from 84% in 2013 to 76% in 2022. The Hispanic population has increased from 9% to 18%, and the Black population has grown from less than 1% to 4% during this period. This shift suggests a growing diversity in the area.
No new LIHTC projects have been recorded in the last decade. This could be due to various factors, including the rising median income, which might indicate a reduced need for additional affordable housing units. However, the increasing diversity and population growth might suggest a potential need for future affordable housing developments to accommodate changing demographics.
Zip code 18032 in Catasauqua, Pennsylvania, has a modest LIHTC funded affordable housing presence, covering approximately 1.45% of the estimated housing stock. The area saw affordable housing development in the 1990s, with a focus on one-bedroom units. While no new LIHTC projects have been recorded in the past decade, the zip code has experienced population growth, rising median incomes, and increasing racial diversity. These demographic shifts may influence future affordable housing needs in the area.