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Affordable Housing in Mercer, Pennsylvania: A Study of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mercer, Pennsylvania, a small community with historical roots in the late 18th century, has 36 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. Of these, 34 are designated as low-income units. The LIHTC-funded housing represents approximately 2.96% of the borough's estimated 1,218 housing units.
The LIHTC program has allocated $105,090 in project tax credits to Mercer for affordable housing initiatives. This funding is distributed across two projects, resulting in an average federal funding of $52,545 per project and $2,919 per unit. Mercer's share of Pennsylvania's total LIHTC funding is 0.02%, indicating a small portion of the state's affordable housing resources.
Affordable housing has been present in Mercer for over 30 years. The initial LIHTC project, Mercer Manor, was completed in 1990, and the most recent project, Heritage Square II, was finished in 2005. One affordable housing project was completed in each of the 1990s and 2000s, demonstrating a gradual development of affordable housing over time.
The LIHTC-funded housing inventory in Mercer consists primarily of one-bedroom units, totaling 34, with an additional 2 two-bedroom units. This distribution suggests a focus on housing for individuals or small families.
Demographic trends over the past decade show that Mercer's population has fluctuated, with a slight overall increase from 2,784 in 2019 to 3,178 in 2022. The median income has shown variability, decreasing from $50,494 in 2019 to $45,288 in 2022. The racial composition of the borough has remained relatively constant, with the white population consistently representing approximately 97% of residents.
The absence of new LIHTC projects in the last decade may be attributed to various factors, including stable population growth and relatively consistent median income levels. However, the slight population increase and fluctuations in median income suggest a potential ongoing need for affordable housing options in the community.
In conclusion, Mercer's LIHTC-funded affordable housing inventory, while modest, provides an important resource for low-income residents. The two existing projects, completed in different decades, demonstrate a long-term commitment to affordable housing. However, the current inventory covers a small percentage of the estimated housing stock, which may indicate potential opportunities for future affordable housing development to meet the needs of the community's lower-income residents.
