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Affordable Housing in Zip Code 17756: LIHTC Project Analysis in Muncy, 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 17756, located in Muncy, Pennsylvania, contains a small LIHTC-funded affordable housing inventory. The area has 16 affordable units, all of which are low-income units, addressing a portion of its affordable housing needs through the LIHTC program. Based on the 2022 population of 13,854 and an estimated 5,308 housing units, the LIHTC-funded affordable housing comprises approximately 0.3% of the zip code's estimated housing inventory.
The LIHTC program has invested $28,987 in tax credits for affordable housing projects in zip code 17756. This equates to an average federal funding of about $1,812 per unit. The zip code's affordable housing through LIHTC began in 1988 with the completion of Park Place North Assoc, which remains the only LIHTC-funded project in the area. This 16-unit development consists entirely of one-bedroom apartments, indicating a focus on smaller household sizes or potentially senior housing.
Over the past decade, the population in zip code 17756 has remained relatively stable, fluctuating between 13,500 and 14,000 residents. The median income has shown an upward trend, increasing from $50,257 in 2013 to $60,530 in 2022, with a peak of $68,411 in 2021. This income growth may have influenced the perceived need for additional affordable housing in the area.
The racial composition of zip code 17756 has remained predominantly white, consistently accounting for over 90% of the population throughout the decade. There have been slight increases in diversity, with small growth in the Hispanic population (from 1% to 3%) and in residents identifying as two or more races (from 1% to 2%) by 2022. The black population has remained steady at around 3-4% throughout this period.
The absence of new LIHTC projects in the last decade could be attributed to the relative stability in population and the increasing median income, which might suggest a reduced demand for additional affordable housing units. However, other affordable housing programs not captured in this data may also be serving the community's needs.
Zip code 17756 in Muncy, Pennsylvania, has a single LIHTC-funded affordable housing project that has been serving the community since 1988. This project provides 16 one-bedroom units, representing a small fraction of the estimated housing inventory. The area has experienced moderate income growth and slight increases in racial diversity over the past decade, with a stable population. These demographic trends, combined with the lack of new LIHTC projects, suggest that the affordable housing needs in this zip code may be relatively stable or potentially addressed through other means not captured in this analysis.
