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Affordable Housing Analysis in Zip Code 19046: Mission Green's Impact on Jenkintown, Pennsylvania
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 19046, situated in Jenkintown, Pennsylvania, has a population of 20,643 as of 2022. This area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 61 low-income units. Based on an estimated housing inventory of 7,909 units, the LIHTC-funded affordable housing comprises approximately 0.77% of the zip code's housing stock.
The LIHTC project in zip code 19046 received $60,000 in tax credits, averaging $983.61 per unit in federal funding. This represents 0.01% of Pennsylvania's total LIHTC funding allocation.
The single LIHTC project in this area, Mission Green, was completed in 2014. It consists of 61 units, including 59 one-bedroom and 2 two-bedroom apartments. This project has been offering affordable housing options in the zip code for nearly a decade.
Over the past decade, the population in zip code 19046 has remained relatively stable, with minor fluctuations. The population decreased from 20,067 in 2010 to 18,946 in 2019, before increasing to 20,643 in 2022.
Median income in the area has shown an upward trend, rising from $96,525 in 2013 to $106,414 in 2022. This increase in median income may indicate a growing need for affordable housing options for lower-income residents.
Racial demographics have remained relatively consistent, with the white population being the majority at around 82-85% throughout the decade. There have been slight increases in the Black and Asian populations, as well as those identifying as two or more races.
Zip code 19046 has one LIHTC-funded affordable housing project, Mission Green, completed in 2014. This project provides 61 low-income units, primarily consisting of one-bedroom apartments. While this represents a small percentage of the estimated housing stock, it contributes to addressing affordable housing needs in the area. The zip code has experienced stable population levels and increasing median income over the past decade, which may influence the demand for affordable housing options in the future.
