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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Plum, Pennsylvania, has a LIHTC funded affordable housing inventory of 120 units, with 110 designated as low-income units. This inventory represents approximately 1.16% of the city's estimated 10,357 housing units based on the 2022 population. The LIHTC program has provided $1,769,699 in project tax credits to Plum, averaging $884,850 per project and $14,747 per unit in federal funding. Plum's share of Pennsylvania's total LIHTC funding is 0.3%.
The city's affordable housing development occurred between 2012 and 2016, with two notable projects: Plum Ridge Retirement Residence (2012) and Serenity Ridge (2016). This indicates that the 2010s were the most active period for affordable housing development in Plum. The LIHTC funded housing inventory consists of 80 one-bedroom units and 40 two-bedroom units, suggesting a focus on smaller households and potentially senior living arrangements.
Plum's population has remained relatively stable over the past decade, with a slight decrease from 27,459 in 2015 to 27,032 in 2022. The median income has increased from $68,572 in 2015 to $81,133 in 2022, potentially indicating a growing need for affordable housing options for lower-income residents. The racial composition has remained predominantly white, decreasing slightly from 94% in 2015 to 91% in 2022, with a small increase in racial diversity as the Black population grew from 2% to 4% during this period.
Plum's LIHTC funded affordable housing inventory provides crucial housing options for low-income residents. The city's two LIHTC projects, completed in 2012 and 2016, demonstrate a commitment to addressing affordable housing needs. With 110 low-income units out of 120 total units, these projects make a targeted contribution to the city's affordable housing stock. The focus on one and two-bedroom units aligns with potential demographic needs, including smaller households and possibly senior residents. As the city's median income continues to rise, maintaining and potentially expanding affordable housing options may be important for ensuring housing accessibility for all residents.