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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Royersford, located in Pennsylvania, has a population of 4,917 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 9 low-income units. Based on the estimated housing inventory of 1,884 units, the LIHTC-funded affordable housing covers approximately 0.48% of the city's housing stock.
The LIHTC program has allocated $22,768 in tax credits to Royersford for affordable housing. This translates to an average federal funding of $22,768 per project and $2,530 per unit. The sole LIHTC-funded project in Royersford is the Ford Apts, completed in 1991. This project consists of 9 two-bedroom units, all of which are designated as low-income housing.
Over the past decade, Royersford has experienced modest population growth, increasing from 4,774 in 2013 to 4,917 in 2022. The median income has also shown an upward trend, rising from $81,710 in 2013 to $82,781 in 2022, with some fluctuations in between.
Regarding racial demographics, the city has maintained a predominantly white population, although there has been a slight decrease from 87% in 2013 to 85% in 2022. The Black population has increased from 4% to 8% during this period, while the Hispanic population has remained relatively stable at around 1-3%. The proportion of residents identifying as two or more races has grown from 1% to 5% over the decade.
Despite these demographic changes, there have been no new LIHTC projects in Royersford since 1991. This could suggest that other affordable housing programs may be meeting the city's needs, or that the demand for additional low-income housing has not been significant enough to warrant new LIHTC developments.
Royersford has a single LIHTC-funded affordable housing project, Ford Apts, which was completed in 1991 and provides 9 low-income units. While this represents a small fraction of the city's estimated housing inventory, it is important to note that other affordable housing programs may be contributing to the city's overall affordable housing stock. The city has experienced modest population growth and increasing median income over the past decade, along with some shifts in racial demographics. However, these changes have not resulted in new LIHTC developments since 1991, suggesting that the existing affordable housing infrastructure, combined with other potential programs, may be sufficiently addressing the city's current needs.