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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19440 in Hatfield, Pennsylvania, encompasses an area of 11.14 square miles with a population of 19,040 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 51 affordable housing units in this zip code, all of which are designated as low-income units. These LIHTC-funded units represent approximately 0.7% of the estimated 7,295 housing units in the zip code.
The LIHTC program has invested $1,016,346 in tax credits for affordable housing projects in zip code 19440. This investment amounts to an average federal funding of $19,928 per unit. The funding allocated to this zip code constitutes 0.17% of the total LIHTC funding in Pennsylvania.
Derstine Run II, completed in 2013, is the sole LIHTC-funded project in zip code 19440. This project provides 51 low-income units, including 6 one-bedroom units, and represents the entirety of LIHTC-funded affordable housing in the area. The 2010s were the most active decade for affordable housing development in this zip code.
Zip code 19440 has experienced consistent population growth over the past decade, increasing from 17,362 in 2013 to 19,040 in 2022. The median income has also risen substantially, from $76,924 in 2013 to $90,925 in 2022, indicating an overall improvement in economic conditions.
Racial demographics in zip code 19440 have remained relatively stable, with a slight decrease in the white population from 73% in 2013 to 67% in 2022. There has been a modest increase in racial diversity, with small growth observed in Asian, Black, and Hispanic populations.
The completion of the Derstine Run II project in 2013 coincided with the beginning of this demographic shift, potentially responding to the growing population and changing community needs. However, the absence of additional LIHTC projects since then, despite continued population growth, may indicate that other affordable housing initiatives or market-rate developments have addressed subsequent housing needs.
Zip code 19440 contains a single LIHTC-funded affordable housing project, Derstine Run II, which provides 51 low-income units. This represents a small fraction of the estimated housing inventory. The area has experienced steady population growth and significant income increases over the past decade, along with a gradual diversification of its racial composition. While the LIHTC program has contributed to affordable housing in this zip code, the limited number of units compared to the population growth suggests that additional affordable housing initiatives or alternative housing solutions may be necessary to meet the community's evolving needs.