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Affordable Housing in Elizabethville: Three Decades of LIHTC-Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Elizabethville in Pennsylvania maintains a modest affordable housing inventory funded by the Low-Income Housing Tax Credit (LIHTC) program. The city has 26 affordable housing units, all designated as low-income units. These LIHTC-funded units represent approximately 1.85% of the city's estimated 1,403 housing units.
Elizabethville has received $167,776 in project tax credits through the LIHTC program. With two approximate projects, this averages to $83,888 per project. The average federal funding per unit is $6,453. The borough holds 0.03% of Pennsylvania's total LIHTC funding.
The first LIHTC project in Elizabethville, Hollywood Commons, was completed in 1991, while the most recent project, Greenfield Estates, was finished in 1997. This indicates that affordable housing has been present in the city for over three decades. The 1990s saw the most affordable housing development activity in Elizabethville.
The affordable housing inventory in Elizabethville consists of 2 one-bedroom units and 24 two-bedroom units. This distribution suggests a focus on accommodating small families or individuals in the city's affordable housing stock.
Elizabethville's population has remained relatively stable over the last decade, with a slight decrease from 3,834 in 2015 to 3,662 in 2022. The median income has shown an upward trend, rising from $53,991 in 2015 to $64,619 in 2022. This increase in median income might suggest a reduced need for additional affordable housing in recent years.
The racial composition of Elizabethville has remained predominantly white, with a slight decrease from 95% in 2015 to 93% in 2022. There has been a small increase in residents identifying as two or more races, from 2% in 2015 to 5% in 2022. The Hispanic population has remained steady at around 2% throughout this period.
Elizabethville's LIHTC-funded affordable housing inventory has been a part of the community for over 30 years. The existing 26 low-income units, primarily consisting of two-bedroom apartments, contribute to the city's housing diversity. Despite no new LIHTC projects in recent years, the city's stable population and increasing median income suggest that the current affordable housing stock may be meeting the community's needs. Ongoing monitoring of demographic trends and housing affordability will be crucial for future planning and potential expansion of affordable housing options in Elizabethville.
