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Affordable Housing in Zip Code 19363: A Three-Decade Presence
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 19363, located in Pennsylvania, encompasses Oxford and surrounding areas. This zip code has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 167 total units, of which 120 are designated as low-income units. Based on the estimated housing inventory of 6,826 units, the LIHTC-funded affordable housing represents 2.45% of the total housing stock in this zip code.
The LIHTC program has invested $1,331,448 in tax credits for affordable housing projects in zip code 19363. This translates to an average federal funding of $7,972 per unit across all LIHTC-funded projects. Zip code 19363 accounts for 0.22% of the total LIHTC funding allocated to Pennsylvania.
Affordable housing has been present in zip code 19363 for nearly three decades. The first LIHTC project, Oxford Place, was completed in 1994, while the most recent addition, Westminster Pl @ Ware Presbyt, was finished in 2017. The 1990s saw the completion of two projects, while the 2010s witnessed two new affordable housing developments.
The LIHTC-funded housing inventory in zip code 19363 offers a range of unit types. There are 26 one-bedroom units, 62 two-bedroom units, and 57 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 19363 has experienced population growth, increasing from 17,067 in 2013 to 17,817 in 2022. Concurrently, the median income has risen from $74,404 in 2013 to $90,143 in 2022. This upward trend in income might suggest a need for affordable housing options to maintain economic diversity in the area.
The racial composition of zip code 19363 has evolved. The proportion of white residents decreased from 76% in 2013 to 68% in 2022, while the Hispanic population increased from 19% to 24% during the same period. This demographic shift could indicate changing housing needs and potentially influence future affordable housing developments.
Zip code 19363 has a modest but significant LIHTC-funded affordable housing presence, representing 2.45% of the estimated housing stock. The area has seen investment in affordable housing over nearly three decades, with projects completed in both the 1990s and 2010s. The unit types available cater to various household sizes. Population and median income growth over the past decade, along with demographic shifts, may influence future affordable housing needs and developments in this zip code.
