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Affordable Housing Analysis in Zip Code 18052: A Single LIHTC Project's Impact
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 18052, located in Fullerton, Pennsylvania, has a population of 28,839 as of 2022. This area has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 48 low-income units. Based on the estimated housing inventory of 11,049 units, LIHTC-funded affordable housing covers approximately 0.43% of the zip code's housing stock.
The LIHTC project in this zip code received $261,944 in tax credits, averaging $5,457 per unit. This funding represents 0.04% of Pennsylvania's total LIHTC allocation. The sole LIHTC project, Sixth Street Elderly Apts, was completed in 1999, indicating over two decades of affordable housing presence in the area. All 48 units in this project are one-bedroom apartments, suggesting a focus on accommodating single residents or small households.
Over the past decade, the zip code's population has grown from 26,762 in 2015 to 28,839 in 2022, an increase of about 7.8%. During this period, the median income fluctuated, starting at $58,146 in 2015 and reaching $66,587 in 2022, representing a 14.5% increase. The racial composition has shown some changes, with the white population decreasing from 72% in 2015 to 65% in 2022, while the Hispanic population increased from 16% to 22% during the same period.
No new LIHTC projects have been developed in the last decade. This could be due to various factors, including the relatively stable median income growth, which might indicate a reduced need for additional affordable housing. However, the population growth and changing racial demographics might suggest an evolving housing demand that could be addressed in future housing plans.
Zip code 18052 has a single LIHTC-funded affordable housing project that has been serving the community for over two decades. While this project provides 48 one-bedroom units for low-income residents, it represents a small fraction of the estimated housing inventory. The area has experienced moderate population growth and income increases over the past decade, along with shifts in racial composition. These demographic changes, coupled with the lack of recent LIHTC developments, may warrant further assessment of affordable housing needs in this zip code.
