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Affordable Housing in Beaver: LIHTC's Impact on a Small Pennsylvania Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Beaver, Pennsylvania, a small community with an estimated population of 4,407 in 2022, has a historical background dating to the 18th century. The Low-Income Housing Tax Credit (LIHTC) program has contributed to the affordable housing inventory in Beaver with 24 low-income units. These LIHTC-funded units represent approximately 1.4% of the city's estimated housing stock of 1,689 units.
Beaver has received $183,646 in project tax credits through the LIHTC program. This funding translates to an average of $183,646 per project and $7,652 per unit, with the city holding 0.03% of the total state funding for LIHTC projects in Pennsylvania. The LIHTC-funded affordable housing in Beaver is represented by a single project, Beaver Village Apartments, completed in 2003.
The Beaver Village Apartments project consists of 24 units, all designated as low-income units. The unit distribution includes 21 one-bedroom apartments and 3 two-bedroom apartments, accommodating various household sizes within the low-income population.
Beaver has experienced a slight population decline over the past decade, from 4,522 in 2013 to 4,407 in 2022. Conversely, the median income has shown an upward trend, increasing from $46,667 in 2013 to $67,730 in 2022. This rise in median income may indicate a changing economic landscape in the city.
The racial demographics of Beaver have remained predominantly white, consistently above 90% throughout the observed period. A slight increase in diversity has been noted, with small percentages of Black, Hispanic, and Asian residents represented in recent years.
Beaver's affordable housing landscape is characterized by a single LIHTC-funded project, Beaver Village Apartments, providing 24 low-income units. This project represents a small portion of the city's estimated housing inventory but has been a consistent source of affordable housing since 2003. The city has experienced a slight population decline over the past decade, coupled with a significant increase in median income. These demographic shifts may influence future affordable housing needs and development in Beaver.
