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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 15074, located in Rochester, Pennsylvania, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 18 units, all designated as low-income. Based on the 2022 population of 8,195 and an estimated 3,140 housing units, LIHTC funded affordable housing comprises approximately 0.57% of the estimated housing inventory in this zip code. This indicates that LIHTC funded projects make a small contribution to the overall housing stock in the area.
The LIHTC program has allocated $84,644 in tax credits to zip code 15074, representing 0.01% of Pennsylvania's total LIHTC funding. This amounts to an average of $4,702 in federal funding per unit. The zip code contains one LIHTC funded project, Riverview Apts, completed in 1999. This project has been providing affordable housing in the area for over two decades.
The housing mix in the LIHTC funded project consists of 16 one-bedroom units and 2 two-bedroom units. This configuration suggests a focus on housing for smaller households or individuals.
Zip code 15074 has experienced a gradual population decline over the past decade, from 8,908 residents in 2014 to 8,195 in 2022. The median income has fluctuated, with the most recent data showing $48,129 in 2022, down from $52,238 in 2014.
Racial demographics in zip code 15074 have remained relatively stable. The white population consistently represents the majority, accounting for 85% in 2022. There has been a slight increase in diversity, with small but growing percentages of Black residents (8% in 2022) and those identifying as two or more races (6% in 2022).
The absence of new LIHTC projects in the last decade may be related to the declining population trend, potentially indicating reduced overall housing demand. However, the fluctuating median income suggests that there may still be a need for affordable housing options in the area.
The LIHTC program has made a small but notable contribution to the affordable housing inventory in zip code 15074, with one project providing 18 low-income units. While this represents a small percentage of the estimated housing stock, it has been a consistent presence for over two decades. The demographic trends show a slightly declining population and fluctuating median income, which could influence future affordable housing needs in the area. The racial composition has remained relatively stable, with a slight increase in diversity over time.