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Affordable Housing in Zip Code 19438: Analysis of Harleysville's LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19438, located in Harleysville, Pennsylvania, is a suburban area with a population of 22,802 as of 2022. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 100 units, with 99 designated as low-income units. The estimated housing inventory of 8,736 units indicates that LIHTC funded affordable housing comprises approximately 1.14% of the zip code's housing stock.
The LIHTC project in zip code 19438 received $816,076 in tax credits, averaging $8,161 in federal funding per unit. This funding represents 0.14% of Pennsylvania's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing initiatives.
The sole LIHTC project in the area, Parkview At Oak Crest, was completed in 2001, marking over two decades of affordable housing presence in the zip code. This project consists of 86 one-bedroom units and 14 two-bedroom units, catering primarily to smaller households or individuals.
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Over the past decade, the population in zip code 19438 has remained relatively stable, with a slight increase from 22,199 in 2013 to 22,802 in 2022. The median income has shown significant growth, rising from $109,293 in 2013 to $118,270 in 2022, with a peak of $137,372 in 2021. This upward trend in median income might suggest a decreasing need for additional affordable housing in the area.
Racial demographics have remained largely consistent, with the white population making up the majority at around 84-86% throughout the decade. There has been a slight increase in diversity, with small growth in Hispanic and Black populations, rising from 1% and 3% in 2013 to 4% each in 2022, respectively.
Zip code 19438 in Harleysville, Pennsylvania, has a single LIHTC funded affordable housing project that has been serving the community for over 20 years. While the project provides 100 units of affordable housing, it represents a small fraction of the estimated housing inventory. The area has experienced steady population growth and significant increases in median income over the past decade, which may impact the perceived need for additional affordable housing. The racial composition of the area has remained predominantly white, with slight increases in diversity. These demographic trends, coupled with the existing LIHTC project, provide a snapshot of the affordable housing landscape in this zip code.
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