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Affordable Housing in Nesquehoning: LIHTC's Impact on a Small 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
Nesquehoning in Pennsylvania maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The borough has 32 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 3,341 and an estimated 1,280 housing units, the LIHTC-funded affordable housing comprises approximately 2.5% of the borough's estimated housing inventory.
Nesquehoning has received $121,040 in project tax credits from the LIHTC program. With one approximate project, this translates to an average federal funding of $121,040 per project. The average federal funding per unit is $3,782.50. The borough holds 0.02% of the total state LIHTC funding.
The single LIHTC-funded project in Nesquehoning is the Nesquehoning School Apts, completed in 1999. This project has been providing affordable housing in the borough for over two decades. The Nesquehoning School Apts project consists of 32 units, including 5 efficiencies and 27 one-bedroom units. This composition suggests a focus on housing for individuals or small households.
Over the past decade, Nesquehoning's population has remained relatively stable, with a slight decrease from 3,321 in 2014 to 3,341 in 2022. The median income has shown an overall upward trend, increasing from $45,675 in 2014 to $49,626 in 2022, with some fluctuations in between.
Racial demographics have remained largely consistent, with the white population comprising the majority (85-89%) throughout the decade. There has been a slight increase in Hispanic representation, from 6% in 2014 to 9% in 2022.
The stable population and increasing median income may partially explain why no new LIHTC projects have been developed in the past decade. However, the slight increase in diversity could potentially indicate a changing need for affordable housing options in the future.
Nesquehoning's LIHTC-funded affordable housing inventory consists of a single project completed in 1999, providing 32 low-income units. While this covers a small percentage of the estimated housing inventory, it has been a consistent source of affordable housing for over two decades. The borough's demographic trends, including a stable population and increasing median income, may have influenced the lack of new LIHTC developments in recent years. However, the slight increase in diversity could potentially signal changing housing needs in the future.
