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Affordable Housing in Huntingdon: LIHTC's Impact on a Small Pennsylvania City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Huntingdon, located in Pennsylvania, has a specific profile regarding its affordable housing landscape. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 59 low-income units, which constitute the total affordable housing units in LIHTC funded projects. Based on an estimated housing inventory of 2,645 units, the LIHTC funded affordable housing represents approximately 2.23% of the city's housing stock.
Huntingdon has received $56,895 in project tax credits from the LIHTC program. With one approximate project, this translates to an average federal funding of $56,895 per project. The average federal funding per unit is $964.32. This funding represents 0.01% of Pennsylvania's total state LIHTC funding.
The city's LIHTC funded affordable housing history dates back to 1994 when the Blair House Apts project was completed. This single project has been providing affordable housing in the city for nearly three decades. All 59 units in the LIHTC funded project are one-bedroom apartments, indicating a focus on housing for individuals or small families.
Over the past decade, Huntingdon has experienced a slight decline in population, from 7,057 in 2015 to 6,904 in 2022. The median income has seen a significant increase, rising from $34,653 in 2015 to $73,396 in 2022. This substantial income growth might explain the lack of new LIHTC projects in recent years, as the overall economic situation of residents has improved.
Regarding racial distribution, the city has maintained a predominantly white population, though there has been a slight increase in diversity. The percentage of white residents decreased from 94% in 2015 to 89% in 2022, with a notable increase in residents identifying as two or more races (from 1% to 7%).
Huntingdon's LIHTC funded affordable housing inventory, while modest in size, has been a stable presence in the community for nearly 30 years. The single project, Blair House Apts, provides 59 one-bedroom units, contributing to about 2.23% of the city's estimated housing stock. Despite the lack of new LIHTC projects in recent years, the city has experienced significant median income growth, potentially reducing the immediate need for additional affordable housing. The demographic shifts, including a slight population decline and increasing diversity, provide context for the city's evolving housing needs.
