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Affordable Housing Analysis: Zip Code 17363 in Stewartstown, Pennsylvania - A Single LIHTC Project's Impact
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 17363, encompassing Stewartstown, Pennsylvania, has a population of 8,226 as of 2022. The area spans approximately 36.19 square miles. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded project, Hopewell Courtyard, which provides 96 affordable housing units. Based on the estimated housing inventory of 3,152 units, LIHTC-funded affordable housing comprises about 3.05% of the zip code's housing stock.
The LIHTC program has invested $5,594,162 in tax credits for affordable housing in zip code 17363. This equates to an average federal funding of $58,272 per unit. This investment represents 0.94% of Pennsylvania's total LIHTC funding, indicating a significant allocation for this area.
Hopewell Courtyard, completed in 2010, is the sole LIHTC-funded affordable housing project in this zip code. The development consists of 71 one-bedroom units and 25 two-bedroom units, accommodating various household sizes.
The population of zip code 17363 has slightly decreased from 8,520 in 2013 to 8,226 in 2022. However, the median income has increased from $77,570 in 2013 to $87,750 in 2022, indicating overall economic growth in the area.
The racial composition of zip code 17363 has remained predominantly white, though there has been a slight increase in diversity. The white population decreased from 97% in 2013 to 90% in 2022, with small increases in Black, Hispanic, and multiracial populations.
Despite the growing median income, the presence of LIHTC-funded housing suggests a continued need for affordable options, potentially serving specific segments of the population or addressing income disparities within the community.
Zip code 17363 has a single LIHTC-funded project providing 96 affordable housing units, contributing to about 3% of the estimated housing stock. This project, completed in 2010, received significant federal funding, representing nearly 1% of Pennsylvania's total LIHTC allocation. While the area has experienced economic growth with rising median incomes, the presence of affordable housing indicates an ongoing need to support diverse housing options in the community. The slight increase in racial diversity over the past decade may also influence the demand for varied and affordable housing solutions.
