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Affordable Housing in Zip Code 15065: LIHTC Impact on Brackenridge
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 15065, located in Brackenridge, Pennsylvania, has a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 40 total units in LIHTC funded projects, with 4 designated as low-income units. Based on the estimated 4,138 housing units in the zip code, LIHTC funded affordable housing comprises approximately 0.97% of the local housing inventory.
The LIHTC program has invested $258,082 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $6,452 per unit. Zip code 15065 accounts for 0.04% of the total LIHTC funding allocated to Pennsylvania.
Pine Ridge Heights, completed in 2001, is the only LIHTC project in the area. This development has provided affordable housing options for over two decades. The project consists of 28 one-bedroom units and 12 two-bedroom units, offering housing options for various household sizes.
Over the past decade, zip code 15065 has experienced a slight decline in population, decreasing from 11,308 in 2017 to 10,799 in 2022. Despite this population decrease, the median income has shown an upward trend, rising from $59,324 in 2017 to $61,146 in 2022. This increase in median income may suggest a reduced need for additional affordable housing in recent years.
The racial composition of zip code 15065 has remained relatively stable, with a predominantly white population. There has been a small increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2017 to 4% in 2022. The Asian and Black populations have also seen slight increases, each reaching 2% of the total population by 2022.
The LIHTC program has made a modest contribution to affordable housing in zip code 15065, with one project providing 40 units, including 4 low-income units. This represents a small fraction of the estimated housing inventory. The area has seen slight demographic shifts, including a decreasing population and increasing median income, which may influence future affordable housing needs. The LIHTC investment has been stable since 2001. Ongoing monitoring of demographic trends will be crucial in determining future affordable housing requirements for this community.
