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Analysis of LIHTC Affordable Housing in Zip Code 17821: A Decade of Stagnation
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 17821 in Riverside, Pennsylvania, contains a total of 72 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This inventory represents approximately 0.93% of the estimated 7,774 housing units in the zip code, based on the 2022 population of 20,291. All 72 units are designated as low-income units.
The LIHTC program has invested $342,574 in project tax credits for affordable housing in zip code 17821. This investment translates to an average federal funding of $4,758 per unit. Zip code 17821 accounts for 0.06% of Pennsylvania's total LIHTC funding allocation.
The affordable housing inventory in this zip code dates back to at least 1996, with the completion of Evergreen Pointe Apartments. The most recent project, Welsh Heights, was completed in 2007, indicating that LIHTC investment in the area has occurred over more than a decade. The 1990s and 2000s were the most active periods for affordable housing development in this zip code.
The LIHTC-funded housing inventory in zip code 17821 consists of 22 one-bedroom units and 50 two-bedroom units, providing options for different household sizes. Evergreen Pointe Apartments, completed in 1996, offers 48 two-bedroom units, while Welsh Heights, completed in 2007, provides 22 one-bedroom units and 2 two-bedroom units.
Zip code 17821 has experienced slight population growth over the past decade, increasing from 19,874 in 2013 to 20,291 in 2022. Median income has also risen, from $59,109 in 2013 to $63,032 in 2022, with a peak of $72,136 in 2021. The racial composition has remained relatively stable, with a minor decrease in the white population from 94% in 2013 to 90% in 2022, and small increases in Asian, Black, and Hispanic populations.
Despite these demographic changes, no new LIHTC projects have been completed in zip code 17821 in the last decade. This lack of new development could be attributed to various factors, including potentially sufficient affordable housing stock from earlier projects or changes in local housing priorities.
Zip code 17821 has a modest LIHTC-funded affordable housing inventory, covering less than 1% of its estimated housing stock. The area has seen two main LIHTC projects completed between 1996 and 2007, providing a mix of one and two-bedroom units. While the population and median income have shown slight increases over the past decade, and there have been minor shifts in racial composition, no new LIHTC projects have been developed during this time. This analysis provides a factual overview of the LIHTC-funded affordable housing landscape in this Pennsylvania zip code, highlighting the program's historical impact and the current state of affordable housing provision in the area.
