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Affordable Housing in Zip Code 19355: A Single LIHTC Project Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
United States Census Bureau: American Community Survey Data (ACS)
US Department of Housing and Urban Development (HUD): Low-Income Housing Tax Credit Properties (LIHTC)
Zip code 19355, located in Frazer, Pennsylvania, has a population of 29,782 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded one affordable housing project in this area, providing a total of 1 affordable unit, which is also designated as a low-income unit. Based on the estimated housing inventory of 11,411 units, LIHTC-funded affordable housing covers approximately 0.01% of the zip code's housing stock.
The LIHTC project in zip code 19355 received $1,491 in tax credits. This translates to an average federal funding of $1,491 per unit. The single LIHTC-funded project in this area is located at 175 W King St and was completed in 1988. This project consists of one two-bedroom unit, indicating a focus on accommodating small families or couples.
Over the past decade, the population in zip code 19355 has grown steadily, increasing from 25,748 in 2013 to 29,782 in 2022. The median income has fluctuated but remained relatively high, reaching $135,312 in 2022. This high median income might partially explain the limited LIHTC activity in recent years, as the area may have less demand for low-income housing.
The racial composition of zip code 19355 has seen some changes. The white population has decreased from 83% in 2013 to 70% in 2022, while the Asian population has increased from 6% to 17% during the same period. The Hispanic population has also grown slightly from 4% to 7%. These demographic shifts, however, do not appear to have directly influenced LIHTC development in the area.
Zip code 19355 in Frazer, Pennsylvania, has a single LIHTC-funded affordable housing unit, which was developed in 1988. This represents a very small portion of the estimated housing inventory. The area has experienced population growth and maintained a high median income over the past decade, which may contribute to the limited LIHTC activity. While racial demographics have shifted, with increases in Asian and Hispanic populations, these changes have not corresponded with new LIHTC developments. The existing LIHTC project continues to provide one affordable housing option in this high-income area.
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