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Affordable Housing Analysis in Zip Code 18045: Two-Decade Stagnation Despite Population Growth
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 18045 in Palmer Heights, Pennsylvania, contains 63 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. These units, all classified as low-income, constitute approximately 0.54% of the total housing stock, based on the 2022 population of 30,413 and an estimated 11,652 housing units.
The LIHTC projects in zip code 18045 have received $668,973 in tax credits, averaging $10,619 per unit. This funding represents 0.11% of the total LIHTC credits allocated in Pennsylvania. Two LIHTC-funded projects exist in this zip code: Grandview Apts and Grandview II, both completed in 1999, indicating a two-decade presence of affordable housing in the area.
All 63 units in these projects are one-bedroom apartments, suggesting a focus on housing for individuals or small households. Neither project specifies a target population, indicating they may serve a general low-income demographic.
Zip code 18045 has experienced steady population growth over the past decade, increasing from 28,567 in 2013 to 30,413 in 2022. Median income has also risen significantly, from $85,933 in 2013 to $98,490 in 2022, representing a 14.6% increase.
The racial composition of zip code 18045 has remained relatively stable, with a slight decrease in the white population (from 79% in 2013 to 76% in 2022) and a modest increase in the Hispanic population (from 6% to 13% over the same period). Other racial groups have maintained relatively consistent percentages.
Despite the population growth and rising median income, no new LIHTC projects have been developed in zip code 18045 in the last decade. This could be attributed to the area's relatively high median income, which may reduce the perceived need for additional affordable housing units.
Zip code 18045 has a small but established LIHTC-funded affordable housing inventory, all dating back to 1999. While the area has experienced population growth and increasing median income over the past decade, the affordable housing stock has remained constant. The existing units, all one-bedroom apartments, cater to a specific housing need within the community. The demographic trends, particularly the rising median income, may explain the lack of recent LIHTC development in the area.
