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Affordable Housing in State College: LIHTC Impact on University Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
State College, Pennsylvania, home to Penn State University's main campus, has a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 135 total affordable units, all of which are designated as low-income units. Based on the estimated 15,671 housing units in the city, the LIHTC funded affordable housing comprises approximately 0.86% of the city's housing inventory.
State College has received $1,458,380 in project tax credits from the LIHTC program. With approximately 4 projects, this averages to about $364,595 per project. The average federal funding per unit is $10,803. The city holds 0.24% of the total state LIHTC funding, indicating a relatively small portion of Pennsylvania's affordable housing resources.
The affordable housing presence in State College spans from 1994 to 2016, a period of 22 years. The first project built was Beaver Court Apartments in 1994, while the most recent was Atherton Place in 2016. The 2000s saw the most affordable housing development, with projects like Waupelani Heights Apartments completed in 2003.
The LIHTC funded housing inventory in State College consists of 8 efficiencies, 8 one-bedroom units, 37 two-bedroom units, and 1 three-bedroom unit. This distribution suggests a focus on accommodating small families and individuals.
Over the past decade, State College's population has remained relatively stable, fluctuating between 41,000 and 42,000 residents. The median income has shown an overall upward trend, increasing from $34,910 in 2013 to $44,005 in 2022. This rise in median income might indicate a growing need for affordable housing options to maintain economic diversity in the community.
Racial demographics have remained consistent, with the white population comprising around 80% of residents. The Asian population has maintained a steady 10-11% representation, while other racial groups have shown minimal changes. This stability in racial composition suggests that affordable housing initiatives have not significantly altered the city's demographic makeup.
State College's LIHTC funded affordable housing inventory, while modest in size, has been developed over more than two decades. The 135 low-income units represent a small fraction of the city's estimated housing stock. The focus on smaller unit sizes aligns with the needs of a university town population. Despite rising median incomes, the consistent demographic profile and stable population suggest that affordable housing remains an important component of the city's housing strategy, potentially complemented by other affordable housing programs not captured in this LIHTC data.
