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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 17046 in Lebanon, Pennsylvania, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 382 total units in LIHTC-funded projects, with 254 designated as low-income units. Based on the 2022 population of 32,492 and an estimated housing inventory of 12,449 units, LIHTC-funded affordable housing comprises approximately 3.07% of the zip code's estimated housing stock.
The LIHTC projects in zip code 17046 have received $3,649,994 in tax credits, averaging about $9,555 per unit. This zip code holds 0.61% of Pennsylvania's total LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been a consistent feature in zip code 17046, with projects spanning from 1989 to 2016. The earliest project, Red-Har Apts, was completed in 1989, while the most recent, Kreider Commons, was finished in 2016. This represents a 27-year history of LIHTC-funded affordable housing development in the area.
The 2000s experienced the most affordable housing activity, with four projects completed during this decade: Hill Terrace (2001), Deer Lake Apts (2003), Willows Senior Apts (2005), and Mifflin Mills Townhomes (2009). The housing mix in these LIHTC projects is diverse, offering 1 efficiency unit, 91 one-bedroom units, 91 two-bedroom units, and 94 three-bedroom units. This distribution suggests a focus on accommodating various household sizes and needs.
Over the past decade, the population of zip code 17046 has remained relatively stable, growing slightly from 31,997 in 2013 to 32,492 in 2022. Median income has shown an upward trend, increasing from $45,296 in 2013 to $53,037 in 2022, representing a 17% growth. Racial demographics have shifted somewhat during this period. The Hispanic population has grown from 25% in 2013 to 32% in 2022, while the white population has decreased from 69% to 63%. Other racial groups have remained relatively stable.
Despite these demographic changes, no new LIHTC projects have been completed since 2016. This could indicate that existing affordable housing stock is meeting current needs, or that other factors are influencing affordable housing development in the area.
Zip code 17046 demonstrates a consistent commitment to affordable housing through LIHTC investments over nearly three decades. While LIHTC-funded units represent a small percentage of the estimated housing stock, they provide essential affordable options for low-income residents. The area has seen gradual population growth, increasing median incomes, and shifts in racial composition over the past decade. These demographic trends, coupled with the existing affordable housing inventory, may be influencing current affordable housing development patterns in the zip code.