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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 18853, located in Wyalusing, Pennsylvania, features a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as Wyalusing Meadows, was completed in 2017 and provides 51 low-income units. These units represent approximately 3.29% of the zip code's estimated housing inventory of 1,552 units, based on the 2022 population.
The LIHTC program has invested $918,226 in project tax credits in this zip code, averaging $18,004 per unit. This investment accounts for 0.15% of Pennsylvania's total LIHTC funding, indicating a targeted allocation of resources to this area. Wyalusing Meadows offers a mix of unit types, with 26 two-bedroom units, 14 three-bedroom units, and one one-bedroom unit, accommodating households of varying sizes.
The zip code has experienced minor population growth, increasing from 3,958 in 2010 to 4,052 in 2022. Concurrently, the median income has risen from $56,375 in 2013 to $64,959 in 2022, with some annual fluctuations. The area's racial composition has remained predominantly white, consistently above 94% throughout the observed period. A slight increase in diversity is noted, with the percentage of residents identifying as two or more races rising from 2% to 3% between 2013 and 2022.
The implementation of the Wyalusing Meadows LIHTC project in 2017 coincides with a period of relative population stability and increasing median income in zip code 18853. This suggests that the project was developed in response to an identified need for affordable housing options, even as overall economic indicators were improving in the area.
In summary, zip code 18853 in Wyalusing, Pennsylvania, contains a single LIHTC-funded affordable housing project that provides 51 low-income units. This project, Wyalusing Meadows, completed in 2017, offers a range of unit sizes to meet diverse household needs. The implementation of this LIHTC project indicates a proactive approach to maintaining affordable housing options in a predominantly white community with evolving demographic characteristics, despite modest population growth and increasing median incomes over the past decade.