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Affordable Housing in Oakland: LIHTC Impact on Pittsburgh Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oakland, a neighborhood in Pittsburgh, Pennsylvania, is characterized by its educational institutions and cultural attractions. The Low-Income Housing Tax Credit (LIHTC) program has funded 99 total units of affordable housing in Oakland, with 64 designated as low-income units. This represents approximately 2.9% of the estimated 3,416 housing units in the neighborhood.
The LIHTC program has provided $1,208,006 in tax credits for affordable housing projects in Oakland, averaging $12,202 per unit in federal funding. LIHTC-funded affordable housing in the neighborhood spans over three decades, with the first project, Bates Hill, completed in 1987, and the most recent project, Oakland Affordable Living, finished in 2018.
The 2010s saw the most recent affordable housing development in Oakland. Oakland Affordable Living, completed during this decade, added 49 units to the neighborhood's affordable housing inventory, all of which are designated as low-income units. The LIHTC-funded projects in Oakland offer a range of unit types, including 29 one-bedroom units, 45 two-bedroom units, and 25 three-bedroom units, accommodating various household sizes and needs.
Oakland's population has increased from 7,640 in 2010 to 8,916 in 2022. This growth may have contributed to the need for additional affordable housing, as evidenced by the completion of Oakland Affordable Living in 2018. The median income in Oakland was $19,172 in 2022, suggesting a continued need for affordable housing options in the neighborhood.
Racial demographics in Oakland have remained relatively stable, with the white population consistently representing the majority (around 75-80%) over the past decade. The neighborhood has maintained a diverse mix of other racial groups, including Asian, Black, and Hispanic populations, which may benefit from the availability of affordable housing options.
Oakland's LIHTC-funded affordable housing inventory provides important low-income housing options for the neighborhood. The two LIHTC projects demonstrate a long-term commitment to affordable housing in the area. With recent population growth and fluctuating median incomes, the continued presence and potential expansion of affordable housing options may be crucial for maintaining socioeconomic diversity in Oakland. The variety of unit types available in LIHTC-funded projects accommodates different household sizes and needs within the low-income population.
