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Affordable Housing in Hollidaysburg: 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
Hollidaysburg, located in Pennsylvania, has a population of 5,630 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 53 low-income units. Based on the estimated housing inventory of 2,157 units, the LIHTC-funded affordable housing covers approximately 2.46% of the city's housing stock.
Hollidaysburg has received $1,174,799 in project tax credits from the LIHTC program for affordable housing. With one project, this translates to an average federal funding of $1,174,799 per project and $22,166 per unit. The city holds 0.2% of the total state funding for LIHTC projects in Pennsylvania.
The sole LIHTC-funded project in Hollidaysburg is Highland Hall, completed in 2017. This project marks the beginning of LIHTC-funded affordable housing in the city. Highland Hall provides 53 low-income units, consisting of 33 one-bedroom and 2 two-bedroom units.
Over the past decade, Hollidaysburg's population has shown a slight decline, decreasing from 5,841 in 2015 to 5,630 in 2022. The median income has fluctuated, with a notable increase from $50,471 in 2018 to $55,515 in 2022.
Regarding racial demographics, the city has remained predominantly white, with a slight decrease from 97% in 2019 to 93% in 2022. There has been a small increase in diversity, with Asian and Black populations each representing 2% of the population in 2022, and the introduction of a 2% two or more races category.
The completion of Highland Hall in 2017 aligns with a period of relative stability in the city's population and a slight decrease in median income, potentially indicating a growing need for affordable housing options during that time.
Hollidaysburg's LIHTC-funded affordable housing inventory consists of one project, Highland Hall, providing 53 low-income units. This represents a small portion (2.46%) of the estimated housing stock. The city received over $1.1 million in tax credits for this project, averaging $22,166 per unit. The recent increase in median income and subtle shifts in racial demographics may influence future affordable housing needs in the city.
