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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stanton Heights, a neighborhood in Pittsburgh, Pennsylvania, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory includes 77 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 1,737 units, the LIHTC funded affordable housing covers approximately 4.4% of the neighborhood's housing stock.
The LIHTC projects in Stanton Heights have received a total of $686,472 in tax credits. This translates to an average federal funding of $8,915 per unit. The neighborhood has benefited from LIHTC funded affordable housing for over three decades, with the first project, Stanton Ave Project, completed in 1988, and the most recent, North Aiken Apts, finished in 2004.
The 2000s saw the most significant addition to the affordable housing inventory with the completion of North Aiken Apts in 2004. This project alone added 76 units to the neighborhood's affordable housing stock. The majority of LIHTC funded units in Stanton Heights are one-bedroom apartments (66 units), with a small number of two-bedroom units (2 units) also available.
Over the past decade, Stanton Heights has experienced some demographic shifts. The population has slightly decreased from 4,728 in 2015 to 4,534 in 2022. Despite this decline, the median income has shown a significant increase from $54,451 in 2015 to $67,273 in 2022, suggesting an overall improvement in the economic conditions of residents.
The racial composition of the neighborhood has also evolved. The percentage of white residents has increased from 55% in 2015 to 60% in 2022, while the Black population has decreased from 40% to 35% during the same period. The Asian population has remained stable at around 1%, and there has been a slight increase in Hispanic residents and those identifying as two or more races.
The lack of new LIHTC projects in the last decade could be attributed to the rising median income and changing demographics, possibly indicating a reduced need for additional low-income housing in the area.
Stanton Heights has a modest LIHTC funded affordable housing inventory, covering about 4.4% of its estimated housing stock. The neighborhood's two LIHTC projects, completed in 1988 and 2004, provide 77 low-income units, primarily consisting of one-bedroom apartments. While no new LIHTC projects have been developed in the last decade, the existing inventory continues to serve the community. The neighborhood has experienced demographic changes, including a rising median income and shifts in racial composition, which may influence future affordable housing needs and development in the area.