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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 18064, located in Nazareth, Pennsylvania, contains a total of 37 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units comprise approximately 0.37% of the estimated 10,135 housing units in the zip code as of 2022. All 37 units are designated as low-income units.
The LIHTC program has invested $297,203 in tax credits for affordable housing projects in zip code 18064. This investment equates to an average federal funding of $8,032 per unit. The zip code accounts for 0.05% of the total LIHTC funding allocated to Pennsylvania.
Affordable housing has been present in zip code 18064 for over three decades. The first LIHTC project, Belvidere Assoc, was completed in 1989, while the most recent project, Nazareth Senior Apts, was finished in 2002. The 1980s and 2000s each saw the completion of one affordable housing project.
The affordable housing inventory in zip code 18064 consists entirely of one-bedroom units. There are no efficiencies or larger units available through LIHTC funded projects. This unit distribution indicates a focus on housing for individuals or small households.
Over the past decade, the population in zip code 18064 has increased steadily, growing from 23,618 in 2013 to 26,452 in 2022. The median income has generally increased, rising from $84,583 in 2013 to $89,867 in 2022. Racial demographics have remained relatively stable, with a slight decrease in the white population from 93% in 2013 to 88% in 2022. There has been a small increase in diversity, with modest growth in Asian, Black, Hispanic, and multi-racial populations.
Despite these demographic changes, no new LIHTC projects have been developed in zip code 18064 in the last decade. This lack of development may be attributed to the relatively high median income in the area, potentially indicating less demand for affordable housing compared to other parts of the state.
Zip code 18064 has a small but established LIHTC funded affordable housing inventory, consisting of 37 one-bedroom units across two projects. While this represents a small fraction of the estimated housing stock, it has provided consistent affordable housing options for over 30 years. The area has experienced population growth and increasing median income over the past decade, which may influence future affordable housing needs and development in this zip code.