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Affordable Housing in Kulpmont: 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
Kulpmont, located in Pennsylvania, has a total of 42 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units constitute approximately 3.97% of the city's estimated 1,057 housing units as of 2022. All 42 units are designated as low-income units.
The borough has received $59,957 in project tax credits from the LIHTC program. With one project, this translates to an average federal funding of $59,957 per project and $1,428 per unit. Kulpmont holds 0.01% of Pennsylvania's total state LIHTC funding.
The sole LIHTC project in Kulpmont is Timberwood Park Elderly, completed in 1992. This project represents both the beginning and the current state of LIHTC-funded affordable housing in the city, spanning a period of 31 years. All 42 units in the project are one-bedroom apartments, indicating a focus on smaller household sizes or individual residents.
Kulpmont has experienced a slight decline in population over the last decade, decreasing from 2,891 in 2013 to 2,758 in 2022. The median income has shown some fluctuation but overall increased from $47,764 in 2013 to $51,493 in 2022.
The racial composition of Kulpmont has remained predominantly white, with a slight decrease from 98% in 2013 to 89% in 2022. There has been a small increase in racial diversity, with the Hispanic population growing from 1% in 2013 to 8% in 2022, and the Asian population increasing to 2% by 2022.
Given that no new LIHTC projects have been built in the last decade, the demographic data suggests that the existing affordable housing stock may be sufficient for the current population needs, especially considering the slight population decline.
Kulpmont's LIHTC-funded affordable housing inventory consists of a single project with 42 one-bedroom units, completed in 1992. This project covers nearly 4% of the estimated housing stock. While the population has slightly decreased over the past decade, median income has increased, and there has been a small shift in racial diversity. The lack of new LIHTC projects in recent years may indicate that the current affordable housing stock is meeting the needs of the community, though ongoing assessment of housing needs would be prudent as demographics continue to evolve.
