Loading Content...
Affordable Housing in Moscow, Pennsylvania: LIHTC's Recent Impact on a Small Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Moscow in Pennsylvania has a distinctive Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has one LIHTC project providing 48 affordable units, all of which are designated as low-income units. Based on the 2022 population of 1,838 and an estimated 704 housing units, the LIHTC funded affordable housing accounts for approximately 6.8% of the city's estimated housing inventory.
The LIHTC program has invested $1,069,913 in tax credits for affordable housing in Moscow. This equates to an average federal funding of $22,290 per unit. This investment represents 0.18% of Pennsylvania's total LIHTC funding allocation. The single LIHTC project in Moscow, named Academy II, was completed in 2018. This project marks the beginning of LIHTC-funded affordable housing in the city. Academy II consists of 48 units, with 44 one-bedroom units and 4 two-bedroom units, indicating a focus on smaller household sizes.
Over the past decade, Moscow has experienced a decline in population, decreasing from 2,663 in 2013 to 1,838 in 2022. Despite this decline, the median income has shown an overall increasing trend, rising from $73,143 in 2013 to $77,992 in 2022.
The racial composition of Moscow has remained predominantly white, although there has been a slight decrease in the white population percentage from 97% in 2013 to 91% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 1% in 2013 to 4% in 2022, and the Black population increasing from 0% to 2% during the same period.
The completion of the LIHTC project in 2018 coincides with a period of population decline and increasing median income. This suggests that despite the overall economic improvement, there was still a recognized need for affordable housing options in the community.
Moscow's LIHTC funded affordable housing inventory consists of a single project providing 48 low-income units, representing about 6.8% of the estimated housing stock. The project, completed in 2018, received over $1 million in tax credits, demonstrating a significant investment in affordable housing for the community. While the city has experienced population decline and increasing median income over the past decade, the implementation of this LIHTC project indicates an effort to maintain affordable housing options for lower-income residents in an evolving economic landscape.
