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Affordable Housing in Harleysville: LIHTC's Single Project Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Harleysville, Pennsylvania, a census-designated place in Montgomery County, has a population of 10,745 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 100 units, with 99 designated as low-income units. Based on the estimated housing inventory of 4,117 units, the LIHTC-funded affordable housing comprises approximately 2.4% of the city's housing stock.
Harleysville has received $816,076 in project tax credits through the LIHTC program for affordable housing. This funding represents 0.14% of the total LIHTC allocation for Pennsylvania. The sole LIHTC-funded project in Harleysville is Parkview At Oak Crest, completed in 2001. This project has been providing affordable housing in the city for over two decades. The project includes 86 one-bedroom units and 14 two-bedroom units.
Over the past decade, Harleysville's population has decreased slightly from 11,022 in 2016 to 10,745 in 2022. During this period, the median income has increased from $109,480 in 2016 to $130,150 in 2022. This increase in median income may suggest a reduced need for additional affordable housing projects in recent years.
The racial composition of Harleysville has remained predominantly white, decreasing from 87% in 2016 to 85% in 2022. There have been small increases in the Hispanic population (from 2% to 5%) and the Black population (from 2% to 4%) during this period. The Asian population has remained relatively stable at around 4-6%.
Harleysville's LIHTC-funded affordable housing inventory consists of one project, Parkview At Oak Crest, which has been providing 100 units of affordable housing since 2001. This project accounts for 2.4% of the estimated housing stock in the city. This percentage is below the target of 15-20% for affordable housing in a well-balanced city.
The city has experienced a significant increase in median income over the past decade, which could potentially impact the demand for affordable housing. Despite this, the racial diversity in Harleysville has slightly increased, which may influence future affordable housing needs. The absence of new LIHTC projects in recent years could be attributed to the rising median income and the relatively stable population.
