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Affordable Housing in Marysville: A Three-Decade LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marysville, Pennsylvania, a community of 2,651 residents as of 2022, maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The inventory consists of 32 units, all designated as low-income. This accounts for approximately 3.15% of the estimated 1,016 housing units in the city, indicating a contribution to affordable housing while suggesting potential for additional affordable options.
The LIHTC program has allocated $62,881 in tax credits for affordable housing in Marysville. This funding supports one project, resulting in an average federal funding of $62,881 per project and approximately $1,965 per unit. Marysville's allocation represents 0.01% of the total LIHTC funding in Pennsylvania.
Locust Village, completed in 1989, is the sole LIHTC-funded project in Marysville. This development, comprising 32 one-bedroom units, has provided affordable housing options for individuals and small households for over three decades.
Demographic trends over the past decade show a gradual population increase in Marysville, from 2,493 in 2010 to 2,651 in 2022. The median income has experienced fluctuations but overall growth, rising from $51,804 in 2013 to $60,649 in 2022, potentially indicating changing economic conditions in the area.
Racial demographics have remained relatively stable, with the white population consistently representing the majority at 91-95% throughout the past decade. A slight increase in racial diversity has occurred, with small percentages of Black, Asian, and Hispanic residents. The Hispanic population, in particular, has grown from 3% in 2013 to 6% in 2022.
In conclusion, Marysville's LIHTC-funded affordable housing inventory, while modest, has been a consistent part of the community for over 30 years. The single project, Locust Village, provides 32 one-bedroom units, contributing to the city's affordable housing stock. As the population and median income have increased over the past decade, additional affordable housing options may need consideration to meet the evolving needs of the community.
