Affordable Housing Analysis: Zip Code 17349 in New Freedom, Pennsylvania
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
New Freedom in Pennsylvania, zip code 17349, has a total of 28 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise 0.79% of the estimated 3,529 housing units in the zip code, based on the 2022 population of 9,210.
The LIHTC projects in zip code 17349 have received $203,111 in project tax credits, averaging $7,254 per unit. This funding represents 0.03% of Pennsylvania's total LIHTC allocation. The single LIHTC project, New Freedom Apts, was completed in 1999 and consists of 4 two-bedroom and 24 three-bedroom apartments.
Zip code 17349 has experienced population growth from 8,437 in 2013 to 9,210 in 2022. The median income increased from $82,167 in 2013 to $91,043 in 2022. The racial composition remains predominantly white (93% in 2022), with slight increases in Black, Hispanic, and multiracial populations.
Despite rising median income, the existing LIHTC project continues to provide affordable housing options for lower-income residents who may face increased housing costs due to the area's economic growth.
Zip code 17349 in New Freedom, Pennsylvania, has a single LIHTC-funded affordable housing project serving the community for over 20 years. The project provides a modest number of affordable units relative to the estimated housing inventory. It offers housing options for low-income residents in an area experiencing population growth and rising incomes. The mix of two- and three-bedroom units suggests a focus on accommodating families within the affordable housing stock.
As the area continues to develop economically, maintaining and potentially expanding affordable housing options may be important to ensure a diverse and inclusive community.
