Loading Content...
Affordable Housing in Hershey: LIHTC's Impact on the Chocolate Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hershey, Pennsylvania, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Willow Ridge, provides 60 affordable units, including 6 low-income units. The LIHTC-funded affordable housing comprises approximately 1% of the city's estimated 5,947 housing units.
The LIHTC program has allocated $377,656 in tax credits to Hershey for affordable housing development. This amount equates to $377,656 per project and $6,294 per unit on average. Hershey's share of Pennsylvania's total LIHTC funding is 0.06%, indicating a small portion of the state's affordable housing resources.
Willow Ridge, completed in 1999, is the only LIHTC-funded project in Hershey. It has provided affordable housing options for over two decades. The development includes 45 two-bedroom units and 15 three-bedroom units, accommodating various family sizes within the community.
Hershey's population increased from 14,886 in 2013 to 15,522 in 2022. The median income rose from $75,733 in 2013 to $79,618 in 2022, suggesting improved economic conditions.
Racial demographics remained relatively stable. The white population decreased from 82% in 2013 to 75% in 2022. Hispanic representation increased from 6% to 12% during this period. Other racial groups maintained consistent percentages.
The absence of additional LIHTC projects in the past decade may be attributed to the city's rising median income and stable population growth, potentially indicating reduced demand for additional low-income housing units.
Hershey's LIHTC-funded affordable housing inventory consists of one project, Willow Ridge, serving the community for over 20 years. It provides 60 affordable units, representing a small portion of the city's estimated housing stock. The city experienced moderate population growth and increasing median income over the past decade, potentially influencing the lack of additional LIHTC developments. The racial composition remained relatively stable, with a slight increase in Hispanic representation. These demographic trends and the existing affordable housing inventory provide insight into Hershey's current affordable housing situation.
