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Affordable Housing in Canonsburg: LIHTC's Impact on a Growing 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
Canonsburg, a borough in Pennsylvania with a population of 9,672 as of 2022, has received funding from the Low-Income Housing Tax Credit (LIHTC) program for one affordable housing project. This project provides 42 low-income units, which constitutes approximately 1.13% of the city's estimated housing inventory of 3,706 units. The LIHTC program has allocated $313,019 in project tax credits to Canonsburg for affordable housing, averaging $313,019 per project and $7,453 per unit. This allocation represents 0.05% of the total state funding for LIHTC projects in Pennsylvania.
The single LIHTC-funded project in Canonsburg, known as Canon Apts, was completed in 1998. It has been offering affordable housing in the city for over two decades. The project consists entirely of one-bedroom apartments, totaling 42 units, which are designed to accommodate individuals or small households.
Canonsburg's population has experienced minor fluctuations over the past decade, increasing from 8,842 in 2019 to 9,672 in 2022. Concurrently, the median income has risen from $67,946 in 2019 to $75,965 in 2022. This increase in income may suggest a potential decrease in the demand for additional affordable housing in recent years.
The racial demographics of Canonsburg have remained relatively stable. The white population has seen a slight increase from 86% in 2019 to 91% in 2022, while the Black population decreased from 9% to 5% during the same period. The Hispanic population has consistently represented about 1-3% of the total population over the past few years.
In conclusion, Canonsburg's affordable housing inventory funded by LIHTC consists of a single project with 42 low-income units, all of which are one-bedroom apartments. This project represents a small fraction of the city's estimated housing stock but has provided affordable housing options for more than two decades. The city's demographic trends, including a modest population increase and rising median income, may influence the current demand for affordable housing. The stability in racial demographics indicates that the existing LIHTC project continues to serve a diverse community within Canonsburg.
