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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jim Thorpe, located in Pennsylvania, is a small city with a population of 4,532 as of 2022. The city has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 27 total units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 1,736 units, the LIHTC-funded affordable housing covers about 1.55% of the city's housing stock.
Jim Thorpe has received $421,917 in project tax credits from the LIHTC program for affordable housing. With one project, this translates to an average federal funding of $421,917 per project. The average federal funding per unit is $15,627. The city holds 0.07% of the total state funding for LIHTC projects in Pennsylvania.
The only LIHTC-funded project in Jim Thorpe is the Lehigh Coal & Navigation Bldg, completed in 2017. This project represents the entirety of the city's LIHTC-funded affordable housing inventory. Regarding unit types, the Lehigh Coal & Navigation Bldg consists of 24 one-bedroom units and 3 two-bedroom units. There are no efficiencies, three-bedroom, or four-bedroom units in this project.
Over the past decade, Jim Thorpe has experienced a slight decline in population, from 4,760 in 2013 to 4,532 in 2022. The median income has shown some fluctuation but has generally increased from $58,436 in 2013 to $64,940 in 2022. The racial composition of the city has remained relatively stable, with the white population consistently representing over 90% of the total. There has been a slight increase in the Hispanic population, from 3% in 2013 to 3-5% in recent years.
The completion of the LIHTC project in 2017 coincides with a period of relatively stable median income and a slight decrease in population. This suggests that the project may have been implemented to address the housing needs of the existing low-income population in the face of these demographic trends.
Jim Thorpe's LIHTC-funded affordable housing inventory, while modest in size, represents a targeted effort to provide affordable housing options in the community. The single project, completed in 2017, focuses on smaller unit sizes, primarily one-bedroom apartments. This aligns with the city's demographic trends, including a slight population decline and relatively stable median income. While the LIHTC-funded units cover only a small percentage of the city's estimated housing stock, they provide an important resource for low-income residents in this small Pennsylvania borough.