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Affordable Housing in Zip Code 17361: Shrewsbury's LIHTC Investment
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 17361, located in Shrewsbury, Pennsylvania, demonstrates a significant investment in affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. This area contains 102 affordable units, all classified as low-income. Given the 2022 population of 5,273 and an estimated 2,020 housing units, LIHTC-funded affordable housing represents approximately 5.05% of the estimated housing inventory in this zip code.
The LIHTC program has allocated $613,008 in tax credits for affordable housing projects in zip code 17361. This equates to an average federal funding of $6,010 per unit. Notably, this zip code accounts for 0.1% of the total state LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been present in this zip code since 1998, beginning with the completion of the Shrewsbury Courtyards project. The most recent project, Shrewsbury Courtyards II, was completed in 2001, spanning a three-year period of LIHTC-funded affordable housing development. The late 1990s and early 2000s marked the peak of affordable housing activity in this area.
The affordable housing inventory in zip code 17361 primarily consists of one-bedroom units, totaling 80, followed by 22 two-bedroom units. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, the population in zip code 17361 has shown an upward trend, increasing from 5,011 in 2013 to 5,273 in 2022. However, the median income has fluctuated, peaking at $96,582 in 2014 and declining to $80,119 in 2022. This trend may indicate a growing need for affordable housing options.
The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 93% in 2013 to 88% in 2022. There has been a small increase in diversity, with slight growth in Hispanic, multi-racial, and other racial categories. These demographic shifts, coupled with the income trends, may suggest an evolving need for affordable housing options to serve a more diverse population.
Zip code 17361 in Shrewsbury, Pennsylvania, has an established foundation of LIHTC-funded affordable housing, covering about 5% of the estimated housing inventory. The area received a notable share of state LIHTC funding, with projects completed in the late 1990s and early 2000s. While the population has grown over the past decade, median income has decreased, potentially indicating an increasing need for affordable housing options. The demographic composition has shown slight shifts towards greater diversity, which may influence future affordable housing needs in the area.
