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Affordable Housing in Jersey Shore, PA: LIHTC's Impact on a Small 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
Jersey Shore, located in Pennsylvania, has a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 25 affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 1,594 units, the LIHTC funded affordable housing covers approximately 1.57% of the city's housing stock.
Jersey Shore has received $158,208 in project tax credits from the LIHTC program for affordable housing. With one approximate project, this translates to an average federal funding of $158,208 per project and $6,328 per unit. The city holds 0.03% of the total state funding for LIHTC projects in Pennsylvania.
The Broad Street School Apts, completed in 2001, represents the single LIHTC funded project in Jersey Shore. This project has been providing affordable housing in the city for over two decades.
The affordable housing inventory in Jersey Shore consists of 25 units, including 2 one-bedroom units and 1 two-bedroom unit. The distribution of unit types suggests a focus on smaller households or individuals.
Over the last decade, Jersey Shore has experienced a gradual decline in population, from 4,339 in 2014 to 4,160 in 2022. The median income has fluctuated, reaching a peak of $60,915 in 2021 before decreasing to $53,020 in 2022. The racial composition of the city has remained predominantly white, consistently above 96% throughout the period.
Despite the population decrease, the median income has shown an overall upward trend, which might indicate a reduced need for additional affordable housing in recent years. The stable racial composition suggests that the existing LIHTC project continues to serve the needs of the local community.
Jersey Shore's LIHTC funded affordable housing inventory, while modest in size, has been a consistent presence in the community since 2001. The single project, Broad Street School Apts, provides 25 low-income units, representing 1.57% of the estimated housing stock. This percentage is lower than the target for a well-balanced city. The demographic trends, including a declining population and generally increasing median income, suggest that the current LIHTC inventory may be sufficient for the city's evolving needs.
