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Affordable Housing in Sayre: A Decade of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sayre, Pennsylvania, a small community with a railroad industry background, has 65 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. Of these, 38 are designated as low-income units. The LIHTC-funded housing represents approximately 3.1% of the city's estimated 2,093 housing units.
The city has received $415,823 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this equates to an average federal funding of $103,956 per project and $6,397 per unit. Sayre accounts for 0.07% of the total state LIHTC funding, indicating a relatively small portion of Pennsylvania's affordable housing resources.
The first LIHTC project in Sayre, Hopkins Commons, was completed in 1996, and the most recent project, Lockhart Elderly, was finished in 2006. This demonstrates a decade-long commitment to affordable housing development in the city. The late 1990s and early 2000s saw the most affordable housing activity, with projects such as Hopkins Commons Phase II (1999) and Wilbur (2002) being completed during this period.
The LIHTC-funded housing inventory in Sayre consists of a mix of unit types, including 1 efficiency unit, 50 one-bedroom units, and 14 two-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially elderly residents.
Sayre's population has remained relatively stable over the past decade, with a slight decrease from 5,616 in 2010 to 5,463 in 2022. The median income has fluctuated, reaching a low of $38,826 in 2018 before rising to $46,589 in 2022. This recent increase in median income might indicate a reduced need for additional affordable housing in the short term.
The racial composition of Sayre has become slightly more diverse over the past decade, with the white population decreasing from 98% in 2013 to 89% in 2022. This gradual shift in demographics could potentially influence future affordable housing needs and planning.
Sayre's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The community experienced a decade of affordable housing development from 1996 to 2006, with a focus on smaller units suitable for individuals and small families. While the population has remained relatively stable, recent increases in median income and slight changes in racial diversity may impact future affordable housing needs. Continued monitoring of demographic trends and housing affordability will be crucial for ensuring Sayre's housing stock meets the needs of its residents in the coming years.
