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Affordable Housing in Zip Code 19018: Limited LIHTC Inventory Amidst Demographic Changes
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 19018, located in Clifton Heights, Pennsylvania, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 2 total affordable units, all of which are designated as low-income units. Based on the estimated 8,695 housing units in the zip code, LIHTC funded affordable housing covers approximately 0.02% of the housing inventory. This suggests that LIHTC funded projects make up a very small portion of the overall housing stock in this area.
The LIHTC program has provided $5,378 in tax credits for affordable housing projects in this zip code. With 2 total units funded, this equates to an average of $2,689 in federal funding per unit. The single LIHTC funded project in this zip code, "18 S Diamond St," was completed in 1991. This project consists of two two-bedroom units, which comprise the entirety of the LIHTC funded affordable housing inventory in the area.
Over the past decade, the population in zip code 19018 has remained relatively stable, fluctuating between 22,300 and 23,000 residents. The median income has shown a steady increase, rising from $60,947 in 2017 to $71,021 in 2022, indicating improving economic conditions for residents.
Racial demographics have shifted noticeably during this period. The white population decreased from 73% in 2017 to 59% in 2022, while the Black population increased from 17% to 28%. The Asian population also saw a slight increase from 5% to 7%. These changes suggest a growing diversity in the area.
Despite these demographic shifts, there have been no new LIHTC funded projects in the last decade. This could be due to various factors, including the rising median income, which might indicate a reduced need for affordable housing, or the possibility that other housing programs are meeting the community's needs.
Zip code 19018 has a very limited LIHTC funded affordable housing inventory, consisting of just one project with two units, completed in 1991. This represents a tiny fraction of the estimated housing stock in the area. Over the past decade, the area has experienced stable population levels, increasing median income, and growing racial diversity. The lack of recent LIHTC projects, despite demographic changes, suggests that other factors or programs may be influencing the affordable housing landscape in this zip code.
