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Affordable Housing in Zip Code 17057: A Decade of Stagnation Amidst Growth
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 17057, located in Middletown, Pennsylvania, contains two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects. These projects provide 102 affordable units, all designated as low-income. The LIHTC projects represent approximately 1.11% of the zip code's estimated 9,226 housing units. The projects received $745,502 in tax credits, averaging $7,309 per unit and accounting for 0.12% of Pennsylvania's total LIHTC allocation.
The LIHTC projects in zip code 17057 were developed between 1992 and 2001. Wilson Street Apts, completed in 1992, was the first project, while Springwood Glen At Georgetown Village, finished in 2001, was the most recent. The affordable housing inventory primarily consists of two-bedroom units (70), followed by three-bedroom units (29), and one-bedroom units (3).
Demographic data for zip code 17057 shows population growth from 22,315 in 2015 to 24,079 in 2022. The median income increased from $55,573 in 2015 to $66,592 in 2022, a 19.8% rise. Racial demographics remained relatively stable, with a slight decrease in the white population from 85% to 78% between 2015 and 2022. The Hispanic population grew from 5% to 10% during this period.
Despite population growth and income increases over the past decade, no new LIHTC projects have been developed in zip code 17057 since 2001. This lack of new affordable housing development may be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or perceptions that existing affordable housing stock is sufficient.
The established LIHTC-funded affordable housing in zip code 17057, while limited to 1.11% of the estimated housing inventory, provides a foundation for affordable housing in the area. However, the absence of recent LIHTC projects, coupled with population growth and significant income increases, suggests a potential need for reassessment of affordable housing requirements in the zip code.
In conclusion, zip code 17057 presents a case of stagnant affordable housing development despite demographic and economic changes. The community's evolving socioeconomic landscape may warrant a reevaluation of affordable housing needs to ensure adequate provision for low-income residents in the face of ongoing population growth and rising incomes.
