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Affordable Housing Analysis in Zip Code 19446: Montgomeryville's LIHTC-Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 19446 in Montgomeryville, Pennsylvania, has a population of 57,875 as of 2022. This area contains 69 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 22,174 units, LIHTC-funded affordable housing comprises approximately 0.31% of the zip code's housing stock.
The LIHTC projects in zip code 19446 have received $1,993,339 in project tax credits, averaging about $28,888 per unit. This funding represents 0.33% of Pennsylvania's total LIHTC allocations, indicating a relatively small share of the state's affordable housing investment in this area.
Affordable housing has been present in zip code 19446 since at least 2008, with the completion of the Schwenckfeld Mews project. The most recent project, North Penn Commons, was completed in 2016, suggesting an eight-year span of LIHTC development activity. The 2010s saw the most affordable housing projects completed in this area.
All 69 LIHTC-funded units in zip code 19446 are one-bedroom apartments, indicating a focus on housing for individuals or small households. The projects do not have specified target populations, suggesting they may serve a general low-income demographic.
Over the past decade, zip code 19446 has experienced steady population growth, increasing from 52,564 in 2013 to 57,875 in 2022. Median income has also risen, from $91,586 in 2013 to $96,461 in 2022, with some fluctuations in between. The racial composition has remained relatively stable, with a slight decrease in the white population (from 79% to 73%) and small increases in Asian (10% to 14%) and Black (4% to 7%) populations.
Despite the population growth and income increases, there has been limited LIHTC development in recent years. This could be due to the area's relatively high median income, which may reduce the perceived need for additional affordable housing units.
Zip code 19446 has a small but present LIHTC-funded affordable housing inventory, consisting of 69 one-bedroom units across three projects. While this represents a small fraction of the area's estimated housing stock, it has contributed to the diversity of housing options in the community. The area has seen steady population growth and income increases over the past decade, which may influence future affordable housing needs and development strategies.
