Affordable Housing in Bethlehem: A Decade of LIHTC-Funded Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Bethlehem, New Hampshire, maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 26 affordable housing units, with 8 designated as low-income units. These LIHTC-funded units represent approximately 2.7% of the city's estimated 962 housing units.
Bethlehem has received $58,698 in project tax credits from the LIHTC program. With two projects, this translates to an average federal funding of $29,349 per project or $2,257 per unit. Bethlehem accounts for 0.12% of the total state funding for LIHTC projects in New Hampshire.
The city's involvement in LIHTC-funded affordable housing began in 1996 with the Pine Manor Apts project and continued with the Hillview Bethlehem project in 2007. This indicates that affordable housing has been part of Bethlehem's landscape for at least 11 years.
The 2000s marked significant development in affordable housing for Bethlehem, with the completion of Hillview Bethlehem in 2007. This project added 20 units to the city's affordable housing inventory, including 18 one-bedroom units and 2 two-bedroom units.
Bethlehem's LIHTC-funded affordable housing inventory consists of 18 one-bedroom units, 6 two-bedroom units, and 2 three-bedroom units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, Bethlehem's population has remained relatively stable, with minor fluctuations. The population was 2,539 in 2014 and stood at 2,512 in 2022. Median income has shown considerable volatility, rising from $49,858 in 2014 to a peak of $91,505 in 2021, before settling at $53,780 in 2022.
The racial composition of Bethlehem has remained predominantly white, consistently above 95% throughout the decade. There has been a slight increase in diversity, with small percentages of Asian, Hispanic, and multiracial residents emerging in recent years.
The stability in population and the recent volatility in median income may explain why no new LIHTC projects have been developed in the last decade. The high percentage of white residents suggests that future affordable housing initiatives may need to consider strategies for promoting greater racial diversity and inclusion.
Bethlehem's LIHTC-funded affordable housing inventory, while modest, has been a consistent part of the community for over a decade. The city's two projects provide 26 units, primarily consisting of one-bedroom apartments. While this accounts for only 2.7% of the estimated housing inventory, it represents a significant investment in affordable housing for a small community. The demographic trends, including a stable population and fluctuating median income, provide context for the current state of affordable housing in Bethlehem and may inform future housing development decisions.
