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Affordable Housing in Downtown Altoona: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Downtown Altoona, Pennsylvania, contains 37 LIHTC-funded affordable housing units, all designated as low-income. Based on the 2022 population of 1,274 and the national average household size of 2.61, the neighborhood has an estimated 488 housing units. The LIHTC-funded units represent approximately 7.6% of the estimated housing inventory.
The LIHTC program has invested $329,401 in tax credits for affordable housing projects in Downtown Altoona, averaging $8,903 in federal funding per unit. The neighborhood's affordable housing development history dates back to 1988, with the earliest recorded projects at 964 Jackson St and 137 S Eighth St. The most recent documented project, completed in 1993, is known as the 10Th St Project.
The late 1980s and early 1990s were particularly active for affordable housing development in Downtown Altoona. Notable projects from this period include 846 W Walnut St and 848 W Walnut St (both completed in 1989), and 627 Hamilton Apts (completed in 1992). The LIHTC-funded housing stock primarily consists of one-bedroom to three-bedroom units, with 5 one-bedroom units, 27 two-bedroom units, and 5 three-bedroom units.
Downtown Altoona has experienced demographic shifts over the past decade. The population has remained relatively stable, fluctuating between 1,200 and 1,400 residents. Median income has shown an upward trend, increasing from $13,653 in 2013 to $18,507 in 2022, indicating changing economic conditions in the neighborhood.
Racial demographics have also evolved. The neighborhood remains predominantly white, but there has been a slight increase in diversity. The percentage of Black residents has grown from 5% in 2013 to 8% in 2022, and the Hispanic population has increased from less than 1% to 4% during the same period. These demographic changes may influence future affordable housing needs and development strategies.
Downtown Altoona's LIHTC-funded affordable housing inventory plays a significant role in the neighborhood's housing landscape. The area experienced substantial affordable housing development in the late 1980s and early 1990s, with a mix of unit sizes catering to various household types. While no new LIHTC projects have been recorded in recent years, the neighborhood has experienced modest population growth, increasing median income, and growing racial diversity. These demographic trends may inform future affordable housing strategies and development in Downtown Altoona.
