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Affordable Housing in Lititz, Pennsylvania: A Small City's LIHTC Inventory
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lititz, located in Pennsylvania, has a small but notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has a total of 18 affordable units, all of which are designated as low-income units. With an estimated 3,662 housing units in the city based on the 2022 population, the LIHTC-funded affordable housing covers approximately 0.49% of the city's estimated housing inventory.
Lititz has received $205,187 in project tax credits from the LIHTC program for affordable housing. With approximately 2 projects, this averages to about $102,593 per project. The average federal funding per unit is approximately $11,399. Lititz holds 0.03% of the total state LIHTC funding for Pennsylvania.
The earliest known LIHTC project in Lititz is Walnut St Apts, completed in 2005. This indicates that affordable housing has been present in the city for at least 18 years. The 2000s saw the most affordable housing projects completed in the city.
The LIHTC-funded projects in Lititz consist primarily of two- and three-bedroom units. There are 13 two-bedroom units and 5 three-bedroom units, providing options for various family sizes.
Over the last decade, Lititz has experienced modest population growth, increasing from 9,368 in 2013 to 9,559 in 2022. The median income has also risen significantly, from $68,431 in 2013 to $77,187 in 2022, indicating improved economic conditions for many residents.
The racial composition of Lititz has remained relatively stable, with a predominant white population. However, there has been a slight increase in diversity, with the Hispanic population growing from 4% in 2013 to 7% in 2022, and the Asian population increasing from 0% to 3% during the same period.
Lititz's LIHTC-funded affordable housing inventory, while small, provides 18 low-income units to the community. The city has received over $200,000 in tax credits for these projects, representing a small but significant portion of Pennsylvania's LIHTC funding. The housing stock primarily consists of two- and three-bedroom units, catering to various family sizes. Over the past decade, the city has experienced population growth and a substantial increase in median income, which may influence the demand for affordable housing in the future.
