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Affordable Housing in Highspire: LIHTC's Impact on a Historic Pennsylvania Borough
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Highspire, located in Pennsylvania, has a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as Highspire School Apts, was completed in 1992 and provides 15 affordable units, including 4 designated as low-income units. Based on the 2022 population of 2,709 and an estimated 1,038 housing units, the LIHTC-funded affordable housing comprises approximately 1.45% of the city's estimated housing inventory.
The LIHTC program has allocated $187,929 in tax credits to Highspire for affordable housing development. This amount equates to an average federal funding of $187,929 per project and $12,528.60 per unit. Highspire's allocation represents 0.03% of Pennsylvania's total LIHTC funding.
The Highspire School Apts project consists of 15 units, including 3 efficiencies, 3 one-bedroom units, and 9 two-bedroom units. This distribution indicates a focus on accommodating smaller households and families.
Highspire's population has experienced minor fluctuations over the past decade, decreasing slightly from 2,712 in 2010 to 2,709 in 2022. The median income has shown an overall upward trend, increasing from $41,872 in 2013 to $62,261 in 2022. This rise in median income may suggest a reduced need for additional affordable housing projects in recent years.
Racial demographics in Highspire have shifted over the past decade. The white population has increased from 64% in 2017 to 77% in 2022, while the Black population has slightly decreased from 14% to 13% during the same period. The Hispanic population has experienced a more significant decrease, from 19% in 2017 to 6% in 2022.
Highspire's LIHTC-funded affordable housing inventory consists of a single project completed in 1992, providing 15 units with a mix of efficiencies, one-bedroom, and two-bedroom apartments. This project covers a small percentage of the city's estimated housing inventory but has been a long-standing contributor to affordable housing in the area. The city's changing demographics, including rising median income and shifts in racial composition, may influence future affordable housing needs and development in Highspire.
