Loading Content...
Affordable Housing in Saxonburg: LIHTC's Two-Decade Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Saxonburg, located in Pennsylvania, has a population of 1,333 as of 2022. The city has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 26 affordable units, all designated as low-income units. Based on the estimated housing inventory of approximately 511 units, the LIHTC funded affordable housing comprises about 5.1% of the city's housing stock.
Saxonburg has received $55,501 in project tax credits through the LIHTC program. With one project, this translates to an average federal funding of $55,501 per project and $2,135 per unit. The city holds 0.01% of the total state funding for LIHTC projects in Pennsylvania.
The sole LIHTC project in Saxonburg is Little Creek Apartments, completed in 1999. This project marks the beginning of LIHTC-funded affordable housing in the city and has been serving the community for over two decades. The Little Creek Apartments project consists of 26 units, with a mix of 6 one-bedroom units, 18 two-bedroom units, and 2 three-bedroom units.
Over the past decade, Saxonburg has experienced demographic shifts. The population has declined from 1,609 in 2019 to 1,333 in 2022. The median income has remained relatively stable, increasing slightly from $63,271 in 2019 to $62,424 in 2022.
The racial composition of Saxonburg has remained predominantly white, with 99% of the population identifying as white in 2022. There has been a slight increase in diversity, with 1% of the population identifying as Hispanic and 1% as two or more races in 2022.
Given that no new LIHTC projects have been built in the last decade, the stable median income and minimal changes in racial diversity might suggest that the existing affordable housing stock has been sufficient to meet the city's needs. However, other affordable housing programs may also be contributing to the city's overall affordable housing inventory.
Saxonburg's LIHTC-funded affordable housing, represented by the Little Creek Apartments, has been a consistent part of the community since 1999. While the 26 low-income units cover about 5.1% of the estimated housing stock, this may be supplemented by other affordable housing initiatives. The city's demographic trends, including a slight population decrease and stable median income, suggest that the current affordable housing stock may be meeting the community's needs. Ongoing monitoring of housing affordability and demographic changes will be crucial for ensuring that Saxonburg continues to provide adequate affordable housing options for its residents.
