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Affordable Housing in Zip Code 18076: LIHTC Project in Red Hill, 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
The zip code 18076, located in Red Hill, Pennsylvania, contains one Low-Income Housing Tax Credit (LIHTC) funded project. This project provides 68 affordable units, with 67 designated as low-income units. Based on the 2022 population of 2,738 and an estimated 1,049 housing units, the LIHTC-funded affordable housing represents approximately 6.5% of the zip code's estimated housing inventory.
The LIHTC program has invested $518,071 in tax credits for affordable housing in zip code 18076. This equates to an average federal funding of $7,619 per unit. This investment comprises 0.09% of Pennsylvania's total LIHTC funding, indicating a small but notable contribution to the state's affordable housing efforts.
The single LIHTC-funded project in zip code 18076, "Villas At Red Hill," was completed in 2003. This project has been offering affordable housing options in the area for nearly two decades. The Villas At Red Hill provides a mix of unit types, with 55 one-bedroom units and 13 two-bedroom units, accommodating diverse household sizes within the low-income population.
Zip code 18076 has experienced significant demographic changes over the past decade. The population increased from 2,410 in 2019 to 2,738 in 2022, a 13.6% growth. The median income rose from $70,016 in 2019 to $82,323 in 2022, suggesting an overall improvement in economic conditions.
Racial demographics in zip code 18076 have also shifted. The white population percentage decreased from 89% in 2019 to 85% in 2022, while the Hispanic population increased from 3% to 7% during the same period. The black population remained relatively stable at 5-6%.
Despite these demographic changes and rising median income, the LIHTC-funded affordable housing project has remained a constant presence in zip code 18076. This indicates that even with overall economic improvements, there is still a need for affordable housing options in the area.
The zip code 18076 in Red Hill, Pennsylvania, features one LIHTC-funded affordable housing project serving the community since 2003. While this project covers a small portion of the estimated housing inventory, it provides essential low-income housing options in an area that has experienced population growth and increasing median incomes over the past decade. The changing racial demographics, particularly the growth in the Hispanic population, may suggest evolving affordable housing needs in the community. The consistent presence of this LIHTC project underscores its importance in maintaining housing accessibility amidst changing economic conditions.
