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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 18062, located in Pennsylvania, encompasses Ancient Oaks and surrounding areas. This zip code has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 36 units, all of which are designated as low-income units. Based on the 2022 population of 26,227 and the national average household size, the estimated housing inventory in this zip code is approximately 10,049 units. The LIHTC funded affordable housing covers about 0.36% of the estimated housing units in the zip code.
The LIHTC projects in zip code 18062 have received $235,228 in project tax credits, averaging $6,534 per unit. This zip code holds 0.04% of the total state LIHTC funding. Affordable housing has been present in this area since at least 2001, with the completion of the Locust St Apts project. The most recent project, Cedar Street Apts, was completed in 2003, indicating a two-year period of LIHTC development activity.
The early 2000s saw the most affordable housing projects completed in this zip code. All 36 LIHTC funded units in this area are one-bedroom apartments, suggesting a focus on smaller household sizes or individual residents.
Over the last decade, zip code 18062 has experienced steady population growth, increasing from 24,138 in 2013 to 26,227 in 2022. Median income has fluctuated but generally trended upward, rising from $91,777 in 2013 to $97,088 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population from 83% in 2013 to 78% in 2022, and a modest increase in the Hispanic population from 5% to 11% during the same period.
Despite these demographic changes, no new LIHTC projects have been built in zip code 18062 in the last decade. This could be due to the relatively high median income in the area, which may have reduced the perceived need for additional low-income housing.
Zip code 18062 has a small LIHTC funded affordable housing inventory, consisting of 36 one-bedroom units across two projects completed in the early 2000s. While this represents a small fraction of the estimated housing stock, it is important to note that other affordable housing programs may also be present in the area. The zip code has seen steady population growth and generally increasing median incomes over the past decade, which may have influenced the lack of new LIHTC developments in recent years.