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Affordable Housing Landscape in Zip Code 16901: Wellsboro's LIHTC-Funded Units
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 16901, encompassing Wellsboro in Pennsylvania, presents a distinct affordable housing situation. As of 2022, this area had a population of 10,123 across 211.46 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 51 total units in this zip code, with 15 designated as low-income units. Of the estimated 3,879 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 1.3% of the total housing inventory.
The LIHTC program has invested $999,844 in tax credits for affordable housing projects in zip code 16901. This equates to an average federal funding of $19,605 per unit. This zip code accounts for 0.17% of the total LIHTC funding allocated to Pennsylvania. Affordable housing has been present in this community for over two decades, with the first LIHTC project, Wellsboro Senior Housing, completed in 2001, and the most recent, Greenwood Gardens, finished in 2013. The 2010s witnessed the most significant development in affordable housing for this area.
The LIHTC-funded projects in zip code 16901 offer varied housing options. Of the 51 total units, there are 11 one-bedroom units, 16 two-bedroom units, and 24 three-bedroom units. This distribution indicates an effort to accommodate various household sizes, from individuals to families.
Over the past decade, the population in zip code 16901 has remained relatively stable, increasing slightly from 9,745 in 2010 to 10,123 in 2022. The median income has fluctuated, rising from $49,175 in 2013 to $52,943 in 2022. This modest income growth may suggest an ongoing need for affordable housing options.
The racial composition of zip code 16901 has remained predominantly white, consistently above 95% throughout the decade. However, a small increase in diversity has occurred, with slight growth in Hispanic and Black populations, potentially influencing the need for diverse housing options.
Zip code 16901 has a modest LIHTC-funded affordable housing inventory, comprising about 1.3% of the estimated total housing units. The area has seen two LIHTC projects completed over a 12-year span, with the most recent in 2013. While the population has remained relatively stable, the slight increase and changes in racial composition may influence future affordable housing needs. The variety of unit sizes in LIHTC projects indicates an effort to accommodate different household compositions in the community.
