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Affordable Housing in Bellefonte: LIHTC Impact on Pennsylvania Borough
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bellefonte, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 138 total units, with 102 designated as low-income units. Based on an estimated housing inventory of 2,326 units, LIHTC-funded affordable housing represents approximately 5.9% of the city's housing stock.
Bellefonte has received $1,345,480 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this translates to an average of $336,370 in federal funding per project. The average federal funding per unit is about $9,750. The city holds 0.23% of Pennsylvania's total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
The LIHTC-funded affordable housing in Bellefonte spans from 2011 to 2016, representing a five-year period of active development. The first recorded project was Beaver Heights, completed in 2011, while Bellefonte Mews was completed in 2016. The most active period for affordable housing development was the mid-2010s, with projects like Governors Gate Apartments (2015) and Bellefonte Mews (2016) being completed.
The LIHTC-funded projects in Bellefonte offer a diverse range of unit types. The inventory includes 12 one-bedroom units, 60 two-bedroom units, 32 three-bedroom units, and 7 four-bedroom units, catering to various household sizes and needs.
Over the last decade, Bellefonte's population has remained relatively stable, with a slight decline from 6,286 in 2018 to 6,071 in 2022. The median income has fluctuated, reaching a peak of $67,884 in 2019 before decreasing to $61,343 in 2022. This trend may indicate a continued need for affordable housing options.
Racial demographics show a slight increase in diversity, with the white population decreasing from 95% in 2018 to 91% in 2022. There have been small increases in Asian, Black, and multiracial populations. This gradual diversification might influence future affordable housing needs and strategies.
Bellefonte's LIHTC-funded affordable housing inventory represents a modest but important component of the city's housing stock. The development of these projects between 2011 and 2016 demonstrates a commitment to addressing affordable housing needs. While the current inventory covers about 5.9% of the estimated housing units, ongoing demographic changes and income fluctuations suggest a continued need for affordable housing options. The diversity of unit types in the LIHTC projects indicates an effort to accommodate various household sizes and needs within the community.
