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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Catasauqua, located in Pennsylvania, has a population of 2,956 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 4 total units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 1,133 units, the LIHTC funded affordable housing covers about 0.35% of the city's housing stock.
North Catasauqua has received $257,070 in project tax credits through the LIHTC program. With one approximate project, this translates to an average federal funding of $257,070 per project. The average federal funding per unit is $64,267.50. The city holds 0.04% of the total state LIHTC funding.
The sole LIHTC project in North Catasauqua is the North Catasauqua Street Apts, completed in 1995. This project marks both the beginning and the current extent of LIHTC-funded affordable housing in the city, spanning a period of 27 years. All 4 units in the LIHTC-funded project are one-bedroom apartments. This project does not have a specified target population, suggesting it may be open to various low-income residents.
Over the last decade, North Catasauqua has experienced slight fluctuations in population, with a general trend towards growth. The population increased from 2,831 in 2019 to 2,956 in 2022.
Median income has shown an overall upward trend, rising from $70,731 in 2019 to $70,213 in 2022, with a peak of $74,466 in 2021. This suggests a generally improving economic situation for residents, which may impact the demand for affordable housing.
Racial demographics have shifted noticeably. The white population decreased from 87% in 2019 to 73% in 2022, while the Hispanic population increased from 9% to 18% during the same period. The Black population also saw an increase from 2% to 7%. These changes indicate a growing diversity in the city's population.
Despite these demographic shifts, there have been no new LIHTC projects in the last decade. This could be due to various factors, including potentially sufficient existing affordable housing options or changes in local housing policies.
North Catasauqua's LIHTC-funded affordable housing inventory is limited to one project with 4 units, all one-bedroom apartments. This project, completed in 1995, represents a small fraction of the city's estimated housing stock. While the city has experienced population growth, increased median income, and significant shifts in racial demographics over the past decade, there have been no new LIHTC projects during this period. The reasons for this lack of new affordable housing development through LIHTC could be multifaceted and would require further investigation into local housing policies and other affordable housing programs to fully understand the city's affordable housing landscape.