Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 16105, located in New Castle, Pennsylvania, contains a total of 14 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 13 of these designated as low-income units. Based on the 2022 population of 15,329 and using the national average household size, there are approximately 5,873 housing units in this zip code. The LIHTC funded affordable housing comprises about 0.24% of the estimated housing inventory in the zip code.
The LIHTC program has invested $5,536,913 in tax credits in this zip code. This equates to an average federal funding of $395,494 per unit. Notably, this zip code accounts for 0.93% of the total state LIHTC funding, indicating a substantial allocation of resources to this area.
Affordable housing has been present in this zip code for over a decade. The first LIHTC project, Lightner Greene, was completed in 2010, while the most recent project, Neshannock Woods, was finished in 2018. The 2010s saw the most affordable housing development activity in this area.
The inventory of LIHTC funded units in this zip code includes 9 one-bedroom units and 5 two-bedroom units. This distribution suggests a focus on housing for smaller households or individuals.
Over the last decade, the zip code has experienced demographic shifts. The population increased slightly from 14,694 in 2013 to 15,329 in 2022. Median income grew from $59,520 in 2013 to $66,611 in 2022, representing an 11.9% increase.
The racial composition of the zip code has remained predominantly white, decreasing slightly from 94% in 2013 to 93% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 1% to 3% during this period.
The completion of the Neshannock Woods project in 2018 coincides with a period of relative population stability and gradual income growth in the area. This suggests that the LIHTC program has responded to the ongoing need for affordable housing in the community, even as economic conditions have improved slightly.
Zip code 16105 has a modest but significant LIHTC funded affordable housing inventory, representing a small but important portion of its estimated housing stock. The area has received substantial LIHTC funding, accounting for nearly 1% of the state's total allocation. The housing stock is primarily composed of one and two-bedroom units, catering to smaller households. While the LIHTC funded units cover only a fraction of the estimated housing need, they play a crucial role in providing affordable options in an area that has seen moderate income growth and slight increases in diversity over the past decade.