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Affordable Housing in Roaring Spring: LIHTC Impact on a 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
Roaring Spring, located in Pennsylvania, has a population of 2,512 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 58 affordable housing units in the city, all of which are designated as low-income units. These units represent approximately 6% of the city's estimated housing stock of 962 units.
Roaring Spring has received $105,583 in project tax credits through the LIHTC program. This funding translates to an average of $105,583 per project and $1,820 per unit. The city's LIHTC funding accounts for 0.02% of the total state funding for LIHTC projects in Pennsylvania.
The sole LIHTC-funded project in Roaring Spring is Roaring Springs Commons, completed in 1994. This project consists of 58 units, including 6 one-bedroom units, 46 two-bedroom units, and 6 three-bedroom units. The unit distribution suggests a focus on accommodating small to medium-sized families in the affordable housing inventory.
Over the past decade, Roaring Spring's population has remained relatively stable, fluctuating between 2,400 and 2,600 residents. The median income has increased from $45,462 in 2013 to $58,081 in 2022, indicating gradual economic growth in the community.
The racial composition of Roaring Spring has remained predominantly white, consistently above 90% throughout the past decade. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races rising from 1% in 2013 to 4% in 2022. The Hispanic population has increased from 0% in 2013 to 3% in 2022.
No new LIHTC projects have been built in the last decade. The stable population and gradual income growth suggest that the existing affordable housing inventory has been sufficient to meet the community's needs. However, the slight increase in diversity may require consideration in future affordable housing planning.
Roaring Spring's LIHTC-funded affordable housing inventory has been a consistent part of the community for nearly 30 years. The single project, Roaring Springs Commons, provides 58 low-income units, primarily consisting of two-bedroom apartments. This covers about 6% of the estimated housing stock. The demographic trends show a stable population with slowly increasing median income and a slight increase in diversity, which may inform future affordable housing decisions in the borough.
