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Affordable Housing in Everett: LIHTC's Impact on a Small Pennsylvania Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Everett, a small community in Pennsylvania with a population of 2,154 as of 2022, has a unique affordable housing landscape shaped by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory consists of 18 total units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 825 units, the LIHTC-funded affordable housing covers about 2.18% of the city's housing stock.
The city has received $37,044 in project tax credits through the LIHTC program. With one approximate project, this translates to an average federal funding of $37,044 per project and $2,058 per unit. Everett accounts for 0.01% of Pennsylvania's total LIHTC funding allocation.
The lone LIHTC project in Everett, Central Apts, was completed in 2001. This project has been providing affordable housing in the city for over two decades. Central Apts consists of 18 units, including 2 one-bedroom and 16 two-bedroom apartments. This unit mix suggests a focus on accommodating small families and individuals in need of affordable housing options.
Over the past decade, Everett's population has fluctuated, ranging from 1,733 in 2013 to 2,154 in 2022. The median income has shown some variability, with the most recent figure at $33,342 in 2022. This relatively low median income underscores the potential need for affordable housing options in the community.
Racial demographics in Everett have remained fairly consistent, with the white population comprising the majority (93% in 2022). There has been a slight increase in diversity, with small percentages of Asian, Black, and Hispanic residents in recent years. Despite these demographic shifts, no new LIHTC projects have been developed in the last decade.
Everett's LIHTC-funded affordable housing plays a role in addressing local housing needs. The single project, Central Apts, has provided 18 low-income units for over 20 years. While the LIHTC-funded units represent a small percentage of the city's estimated housing stock, they contribute to the overall affordable housing landscape. The demographic trends, particularly the relatively low median income, suggest an ongoing need for affordable housing options in the community. However, the lack of new LIHTC developments in recent years indicates that other factors may be influencing affordable housing development in Everett.
