Loading Content...
Affordable Housing Analysis in Zip Code 19428: Conshohocken's LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19428 in Conshohocken, Pennsylvania, has a population of 19,315 as of 2022. The area has 43 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. Based on an estimated housing inventory of 7,400 units, LIHTC-funded affordable housing covers approximately 0.58% of the zip code's housing stock.
The LIHTC projects in this zip code have received $312,083 in tax credits, averaging $7,257 per unit. This represents 0.05% of Pennsylvania's total LIHTC funding allocation. Affordable housing has been present in the area since 1993, with the most recent project completed in 2017, spanning a 24-year period.
The 2010s saw the most significant affordable housing development, with the completion of Pleasant Valley Apartments in 2017. This project added 41 units to the area's affordable housing inventory. The zip code's LIHTC-funded housing stock consists of 9 one-bedroom units, 24 two-bedroom units, and 10 three-bedroom units, catering to various household sizes.
Over the past decade, the zip code has experienced significant population growth, increasing from 16,539 in 2013 to 19,315 in 2022. Median income has also risen substantially, from $87,375 in 2013 to $101,504 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population from 87% in 2013 to 84% in 2022, and small increases in Asian and multi-racial populations.
The completion of Pleasant Valley Apartments in 2017 aligns with the area's population growth and increasing median income, suggesting a recognition of the need for affordable housing options in a rapidly developing area.
Zip code 19428 has a small but significant LIHTC-funded affordable housing presence, with 43 units developed over two projects spanning 24 years. This represents a small percentage of the estimated housing stock, demonstrating a continued commitment to providing affordable housing options in an area experiencing population growth and rising incomes. The mix of unit sizes in these projects caters to diverse household needs within the community.
