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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 15317, located in Canonsburg, Pennsylvania, possesses a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 42 affordable housing units, all of which are classified as low-income units. These units constitute approximately 0.26% of the estimated 16,450 housing units in the zip code, based on the 2022 population and national average household size.
The LIHTC program has allocated $313,019 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $7,453 per unit. This investment represents 0.05% of Pennsylvania's total LIHTC funding allocation.
The affordable housing landscape in zip code 15317 is characterized by a single project, Canon Apts, which was completed in 1998. This project has been providing affordable housing options in the area for over two decades.
All 42 units in the LIHTC-funded project are one-bedroom apartments, indicating a focus on smaller household sizes or individual residents. The project does not have a specific target population listed, suggesting it may serve a diverse range of low-income residents.
Over the past decade, zip code 15317 has experienced steady population growth, increasing from 37,074 in 2013 to 42,934 in 2022. This represents a growth rate of approximately 15.8%. Concurrently, the median income has shown an overall upward trend, rising from $79,841 in 2013 to $97,597 in 2022, an increase of about 22.2%.
The racial composition of zip code 15317 has remained relatively stable, with a slight decrease in the white population from 92% in 2013 to 91% in 2022. There has been a small increase in racial diversity, with the Asian population growing from 1% to 2% and the Black population maintaining at 3% over this period.
Despite the population growth and rising median income, there have been no new LIHTC projects in zip code 15317 in the last decade. This could be attributed to the relatively high median income in the area, which may indicate a lower demand for affordable housing compared to other regions.
Zip code 15317 in Canonsburg, Pennsylvania, has a modest LIHTC-funded affordable housing inventory consisting of 42 one-bedroom units in a single project completed in 1998. While this represents a small fraction of the estimated housing stock, it has provided consistent affordable housing options for over two decades. The area has experienced population growth and increasing median income over the past decade, which may influence the perceived need for additional affordable housing projects. The racial composition has remained relatively stable, with a slight increase in diversity. These demographic trends, coupled with the lack of recent LIHTC projects, suggest a complex interplay between housing needs, economic factors, and population dynamics in this zip code.