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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Athol, Massachusetts, has a population of 10,281 as of 2022. The community's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 110 total units, with 105 designated as low-income units. This LIHTC-funded affordable housing represents approximately 2.8% of the city's estimated housing stock of 3,939 units.
Athol has approximately 5 LIHTC-funded projects. The unit distribution includes 24 one-bedroom units, 31 two-bedroom units, 5 three-bedroom units, and 8 four-bedroom units. This range of unit sizes accommodates various household compositions within the affordable housing inventory.
The earliest recorded LIHTC project in Athol was completed in 1987 (Dumont Realty Trust), and the most recent project with a known completion date was finished in 2004 (Cotage - Hapgood Apts). This 17-year span indicates a long-standing commitment to affordable housing development in the city. The 1980s saw the most activity in affordable housing development, with two projects completed during that decade.
Over the past decade, Athol's population has experienced slight fluctuations, growing from 10,090 in 2015 to 10,281 in 2022. The median income has shown an overall upward trend, increasing from $50,305 in 2015 to $54,716 in 2022, with some fluctuations in between.
Regarding racial demographics, Athol has maintained a predominantly white population, with a slight decrease from 91% in 2015 to 88% in 2022. The Hispanic population has remained relatively stable, ranging from 5% to 7% over the past decade. There has been a small increase in racial diversity, with the percentage of residents identifying as two or more races growing from 1% in 2015 to 3% in 2022.
The steady population growth and increasing median income suggest a generally stable economic environment. However, the relatively low percentage of LIHTC-funded affordable housing (2.8% of estimated housing stock) may indicate a need for additional affordable housing options, especially considering the typical target of 15-20% affordable housing in well-balanced cities.
Athol's LIHTC-funded affordable housing inventory represents a small portion of the city's estimated housing stock. The city has seen consistent, though limited, development of affordable housing projects over the years, with a mix of unit sizes to accommodate different household needs. The demographic trends show a slowly growing and diversifying population with increasing median income. These factors, combined with the limited LIHTC inventory, suggest ongoing opportunities for affordable housing development in Athol to meet the needs of its low-income residents.