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Affordable Housing in Pittsburgh's Zip Code 15206: Three Decades of LIHTC Development
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 15206 in Pittsburgh, Pennsylvania, has a substantial inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 677 total units in LIHTC funded projects, with 493 of these designated as low-income units. Based on the 2022 population of 30,004 and an estimated 11,496 housing units, the LIHTC funded affordable housing comprises approximately 5.9% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 15206 have received $8,688,048 in tax credits, averaging about $12,833 in federal funding per unit. This zip code holds 1.45% of Pennsylvania's total LIHTC funding, indicating a significant investment in affordable housing for the area.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Stanton Ave Project, was completed in 1988, and the most recent recorded project, Morningside Crossing, was finished in 2018. The 1990s saw the most affordable housing development, with seven projects completed during that decade.
The LIHTC funded projects in zip code 15206 offer a diverse range of unit types. Out of the 677 total units, there are 28 efficiencies, 234 one-bedroom units, 232 two-bedroom units, 44 three-bedroom units, and 76 four-bedroom units. This distribution caters to various household sizes and needs within the community.
Over the past decade, zip code 15206 has experienced some demographic shifts. The population has remained relatively stable, with a slight decrease from 30,658 in 2010 to 30,004 in 2022. However, the median income has shown a significant increase, rising from $47,349 in 2013 to $62,545 in 2022.
Racial demographics have also shifted during this period. The percentage of white residents increased from 46% in 2013 to 55% in 2022, while the percentage of Black residents decreased from 44% to 30%. The Asian population remained relatively stable, and there was a slight increase in the Hispanic population from 1% to 5%.
Despite these demographic changes, LIHTC projects continued to be developed in the area, with four projects completed between 2014 and 2018. This suggests that the need for affordable housing persisted even as the overall economic profile of the area improved.
Zip code 15206 in Pittsburgh has a substantial LIHTC funded affordable housing inventory, covering about 5.9% of the estimated housing units. With over 30 years of affordable housing development, the area has seen consistent investment in providing housing options for low-income residents. The diverse unit types available cater to various household sizes and needs. Despite demographic shifts and increasing median income over the past decade, the continued development of LIHTC projects indicates an ongoing commitment to maintaining affordable housing options in this community.
