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Affordable Housing in Zip Code 19344: Analysis of Honey Brook School LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19344, located in Honey Brook, Pennsylvania, has a population of 12,801 as of 2022 and covers an area of 32.47 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded one affordable housing project in this zip code, providing a total of 33 low-income units. Based on the estimated housing inventory of 4,905 units, LIHTC-funded affordable housing covers approximately 0.67% of the zip code's housing stock.
The LIHTC project in this zip code received $261,330 in tax credits, averaging $7,919 per unit. This funding represents 0.04% of Pennsylvania's total LIHTC allocation, indicating a relatively small contribution to the state's overall affordable housing efforts.
The sole LIHTC-funded project in this zip code is the Honey Brook School, completed in 1999. This project has been providing affordable housing options for over two decades. The Honey Brook School consists of 33 units, with 31 one-bedroom and 2 two-bedroom apartments, catering primarily to individuals and small families.
Over the past decade, the population in zip code 19344 has grown steadily, increasing from 11,887 in 2013 to 12,801 in 2022. The median income has also risen, from $76,089 in 2013 to $84,696 in 2022, indicating overall economic growth in the area.
Racial demographics have remained relatively stable, with the white population consistently representing over 90% of residents. There has been a slight increase in diversity, with small growth in Hispanic and Black populations, rising from 1% and 3% respectively in 2013 to 4% and 3% in 2022.
Despite the population growth and increasing median income, no new LIHTC projects have been developed in the last decade. This could be due to the relatively high median income, which may reduce the perceived need for additional affordable housing in the area.
Zip code 19344 has a single LIHTC-funded affordable housing project, the Honey Brook School, which has been serving the community since 1999. While this project provides 33 low-income units, it represents a small fraction of the estimated housing inventory. The area has experienced steady population growth and increasing median income over the past decade, with minimal changes in racial demographics. The lack of recent LIHTC developments may be attributed to the area's relatively high median income, potentially indicating a lower perceived need for additional affordable housing units.
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