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Affordable Housing in Marietta: LIHTC Program's Impact on a Historic 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
Marietta in Pennsylvania has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 56 low-income units, representing approximately 5.3% of the estimated 1,061 housing units in the city. This allocation demonstrates a significant contribution to affordable housing within the community.
Marietta has received $1,129,885 in project tax credits through the LIHTC program. This funding translates to an average of $1,129,885 per project and $20,176 per unit. The city's LIHTC funding accounts for 0.19% of Pennsylvania's total, indicating a modest but notable contribution to the state's affordable housing initiatives.
The LIHTC-funded project in Marietta, known as Marietta Senior Apts, was completed in 2012. This development marks the introduction of LIHTC-supported affordable housing in the city, establishing a decade-long presence of this housing type. The project consists of 56 units, divided into 42 one-bedroom and 14 two-bedroom apartments, suggesting a focus on accommodating smaller households, particularly seniors or individuals living alone.
Marietta has experienced demographic changes over the past decade. The population has grown from 2,604 in 2010 to 2,769 in 2022. The median income has fluctuated, peaking at $61,479 in 2021 before decreasing to $54,042 in 2022. This recent decline in median income may indicate an increased need for affordable housing options.
Racial demographics in Marietta have remained relatively stable, with a slight decrease in the white population from 93% in 2013 to 83% in 2022. There has been a small increase in diversity, particularly in the Hispanic and "other" race categories. These demographic shifts may influence future affordable housing needs and priorities.
In conclusion, Marietta's LIHTC-funded affordable housing represents a modest but important component of the city's housing inventory. The Marietta Senior Apts project, completed in 2012, provides 56 low-income units, primarily consisting of one-bedroom apartments. While the LIHTC-funded housing covers about 5.3% of the estimated housing stock, recent demographic trends, including population growth and changes in median income, may influence future affordable housing needs in the city.
