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Affordable Housing Inventory in Zip Code 15632: A Single LIHTC Project Serving Murrysville, Pennsylvania
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 15632, located in Murrysville, Pennsylvania, contains a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has a total of 24 affordable units, all of which are designated as low-income units. These units represent approximately 0.62% of the estimated 3,885 housing units in the zip code.
The LIHTC program has invested $142,863 in tax credits for affordable housing projects in zip code 15632. This investment translates to an average federal funding of $5,953 per unit. The funding represents 0.02% of the total state LIHTC allocation, indicating a relatively small but targeted investment in this area.
The affordable housing landscape in zip code 15632 is characterized by a single project, Export Senior Housing, which was completed in 1994. This project has been providing affordable housing options for nearly three decades, demonstrating a long-standing commitment to addressing housing needs in the area. All 24 units in the LIHTC funded project are one-bedroom apartments, suggesting a focus on accommodating smaller households or individuals.
Over the past decade, zip code 15632 has experienced some demographic shifts. The population has remained relatively stable, fluctuating between 9,500 and 10,300 residents. However, there has been a notable increase in median income, rising from $79,544 in 2013 to $96,459 in 2022, representing a 21% increase.
Racial demographics have shown slight changes, with the white population decreasing from 94% in 2013 to 88% in 2022. Conversely, there have been small increases in Asian, Black, Hispanic, and multi-racial populations. Despite these changes, no new LIHTC projects have been developed in the last decade, which may be attributed to the rising median income and potentially changing housing needs of the population.
Zip code 15632 has a modest LIHTC funded affordable housing inventory, consisting of 24 one-bedroom units in a single project completed in 1994. While this represents a small portion of the total housing stock, it has provided consistent affordable housing options for nearly 30 years. The area has experienced economic growth, as evidenced by the rising median income, and slight diversification in its racial composition. These demographic shifts, coupled with the lack of recent LIHTC developments, suggest that the affordable housing needs and priorities in this zip code may have evolved over time.
