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Affordable Housing Analysis in Zip Code 18360: LIHTC Funded Units in Arlington Heights
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Arlington Heights, located in zip code 18360 in Pennsylvania, contains 76 Low Income Housing Tax Credit (LIHTC) funded affordable housing units. All of these units are designated as low-income. The estimated total housing inventory for this zip code is approximately 11,670 units, based on the 2022 population of 30,460 and the national average household size of 2.61. LIHTC funded affordable housing comprises about 0.65% of the estimated housing units in the zip code.
The LIHTC projects in zip code 18360 have received $9,321,576 in project tax credits, averaging approximately $122,652 per unit in federal funding. This zip code accounts for 1.56% of the total state LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been present in zip code 18360 since 1997, beginning with the completion of Hamilton Manor Apartments. The most recent project, White Stone Commons, was completed in 2011, encompassing a 14-year period of affordable housing development. The 2010s witnessed the most significant affordable housing development in this zip code.
The affordable housing inventory in zip code 18360 consists of 70 one-bedroom units and 6 two-bedroom units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, the population in zip code 18360 has remained relatively stable, fluctuating between 29,000 and 31,000 residents. The median income has shown variability, ranging from approximately $65,400 to $73,893.
Racial demographics in zip code 18360 have shifted slightly. The white population decreased from 76% in 2013 to 68% in 2022. The Hispanic population increased from 9% in 2013 to 17% in 2022. The Black population remained relatively stable at 7-9%, while the Asian population stayed between 2-4%.
The LIHTC program has contributed to the affordable housing inventory in zip code 18360, providing 76 low-income units. This represents a small percentage of the estimated housing stock but involves a significant investment, with over $9 million in tax credits allocated. The housing stock primarily comprises one-bedroom units, suggesting a focus on smaller households. Over the past decade, the area has experienced demographic shifts, particularly an increase in the Hispanic population, which may influence future affordable housing needs.
