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Affordable Housing in Shrewsbury: Two Decades of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Shrewsbury, located in Pennsylvania, has a population of 3,849 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 102 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 1,475 units, the LIHTC funded affordable housing covers approximately 6.9% of the city's housing stock.
Shrewsbury has received $613,008 in project tax credits from the LIHTC program. With two projects, this translates to an average federal funding of $306,504 per project and $6,010 per unit. The city holds 0.1% of the total state LIHTC funding, indicating a relatively small but significant contribution to Pennsylvania's affordable housing efforts.
The affordable housing presence in Shrewsbury spans over three years, with the first project, Shrewsbury Courtyards, completed in 1998, and the most recent project, Shrewsbury Courtyards II, finished in 2001. The late 1990s and early 2000s were the most active periods for affordable housing development in the city.
The LIHTC funded housing in Shrewsbury consists primarily of one-bedroom and two-bedroom units. Specifically, there are 80 one-bedroom units and 22 two-bedroom units, providing a mix of housing options for different household sizes.
Over the past decade, Shrewsbury's population has remained relatively stable, with a slight increase from 3,824 in 2013 to 3,849 in 2022. The median income has fluctuated, reaching a peak of $91,615 in 2021 before decreasing to $83,344 in 2022. This recent decrease in median income could potentially indicate a growing need for affordable housing options.
Racial demographics show a predominantly white population, though there has been a slight decrease from 95% in 2013 to 88% in 2022. The Hispanic population has seen the most significant increase, from 1% in 2013 to 6% in 2022. This demographic shift may influence future affordable housing needs and considerations.
Shrewsbury's LIHTC funded affordable housing inventory comprises 6.9% of its estimated housing stock, with 102 low-income units across two projects. The city received over $600,000 in tax credits, averaging about $6,010 per unit. While no new LIHTC projects have been completed since 2001, recent demographic trends, including a decrease in median income and an increase in racial diversity, may influence future affordable housing needs in the community.
