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Affordable Housing in Koppel: LIHTC's Impact on a Small 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
Koppel, Pennsylvania, is a small community with a population of 743 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 19 low-income units. Based on the estimated housing inventory of approximately 285 units, the LIHTC-funded affordable housing covers about 6.7% of the city's housing stock.
Koppel has received $133,291 in project tax credits for affordable housing through the LIHTC program. With one project in the city, this translates to an average federal funding of $133,291 per project and approximately $7,015 per unit. The city holds 0.02% of the total state LIHTC funding.
The sole LIHTC project in Koppel is the Koppel Elderly Housing Project, completed in 2004. This project has been providing affordable housing in the city for nearly two decades. The project consists of 19 units, with 17 one-bedroom units and 2 two-bedroom units, catering primarily to elderly residents.
Over the past decade, Koppel's population has remained relatively stable, with minor fluctuations. The median income has shown an upward trend, increasing from $42,088 in 2013 to $62,011 in 2022. This rise in median income might indicate a reduced need for additional affordable housing units in recent years.
The racial composition of Koppel has remained predominantly white, with a slight increase in diversity. The percentage of residents identifying as white decreased from 93% in 2017 to 90% in 2022, while the percentage of those identifying as two or more races increased from 1% to 7% during the same period.
Koppel's LIHTC-funded affordable housing inventory consists of one project targeting elderly residents, providing 19 low-income units. This project covers approximately 6.7% of the estimated housing stock in the city. While the city has not seen new LIHTC projects in recent years, the existing project has been serving the community for nearly two decades. The rising median income and stable population suggest that the current affordable housing inventory may be meeting the city's needs, though ongoing assessment of housing affordability remains important for community planning.
