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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 18088, located in Cherryville, Pennsylvania, has a population of 8,728 as of 2022. The area spans 19.88 square miles and contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. There are 37 affordable units, all designated as low-income. These units represent approximately 1.11% of the estimated 3,344 housing units in the zip code.
The LIHTC program has allocated $69,878 in tax credits for affordable housing projects in zip code 18088. This allocation translates to an average federal funding of about $1,888 per unit. Zip code 18088 accounts for 0.01% of Pennsylvania's total LIHTC funding allocation.
Lincoln Manor, completed in 1988, is the only LIHTC funded project in the area. It has provided affordable housing options for over three decades. The development consists of 18 one-bedroom units and 19 two-bedroom units, serving various household sizes within the low-income community.
The population in zip code 18088 has remained relatively stable over the past decade, ranging between 8,600 and 9,000 residents. However, the median income has declined notably, decreasing from $71,100 in 2017 to $58,439 in 2022. This trend indicates a potentially increasing need for affordable housing options in the area.
The racial composition of zip code 18088 has remained predominantly white, consistently above 90% throughout the last decade. There has been a slight increase in diversity, with the Hispanic population growing from 1% in 2013 to 4% in 2022, and the introduction of a small Black population (2%) in recent years.
Zip code 18088 in Cherryville, Pennsylvania, contains a single LIHTC funded affordable housing project, Lincoln Manor, which has served the community since 1988. The 37 low-income units represent a small portion of the estimated housing inventory but provide important affordable housing options. The recent decline in median income suggests a potential growing need for affordable housing in the area. The community's demographic makeup has remained relatively stable, with a slight increase in diversity over the past decade. These trends underscore the ongoing importance of affordable housing initiatives in supporting the evolving needs of the local population.