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Affordable Housing in Zip Code 17550: LIHTC's Significant Impact on Maytown, Pennsylvania
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 17550, located in Maytown, Pennsylvania, is a small community with a population of 182 as of 2022. The area has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprising 23 total units, all of which are designated as low-income units. This LIHTC-funded affordable housing represents approximately 33% of the estimated 70 housing units in the zip code, based on the 2022 population and national average household size. This substantial proportion indicates that LIHTC-funded affordable housing plays a significant role in the area's housing inventory.
The LIHTC program has invested $245,208 in tax credits for affordable housing projects in this zip code. This investment equates to an average federal funding of approximately $10,661 per unit. Notably, this investment represents 0.04% of Pennsylvania's total LIHTC funding allocation, which is considerable given the small size of the community.
The affordable housing in this zip code primarily consists of two-bedroom units, with 22 such units available. Additionally, there is one three-bedroom unit, providing options for larger families. The absence of efficiencies and one-bedroom units suggests a focus on accommodating families rather than individuals or couples.
The sole LIHTC project in this zip code, "Three Center Square," was completed in 2005. This project has been providing affordable housing options to the community for over 15 years, demonstrating a long-term commitment to addressing housing needs in the area.
Over the past decade, the population of zip code 17550 has shown steady growth, increasing from 155 in 2013 to 182 in 2022. This 17.4% population increase may indicate a growing demand for housing in the area, including affordable options.
Median income in the zip code has fluctuated but generally trended upward, rising from $67,493 in 2013 to $99,857 in 2022. This significant increase in median income could potentially impact the need for affordable housing, though income disparities may still exist within the community.
Racial demographics have shifted over the past decade. The white population has decreased from 96% in 2013 to 79% in 2022, while the Hispanic population has increased from 1% to 14% during the same period. The black population and those identifying as two or more races have also seen slight increases. These changes in racial composition may influence the diverse housing needs of the community.
Zip code 17550 in Maytown, Pennsylvania, has a significant LIHTC-funded affordable housing presence, with 23 low-income units covering approximately 33% of the estimated housing inventory. The single LIHTC project, completed in 2005, has been serving the community for over 15 years. The area has experienced population growth and increasing median income over the past decade, along with shifts in racial demographics. These factors, combined with the substantial proportion of LIHTC-funded housing, suggest that affordable housing plays an important role in this community's housing landscape.
