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Affordable Housing in Stevens: A Two-Decade LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Stevens neighborhood in Lancaster, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. With 267 units in LIHTC-funded projects, including 255 low-income units, this neighborhood demonstrates a substantial commitment to affordable housing. Based on the 2022 population of 4,763 and an estimated 1,825 housing units, LIHTC-funded affordable housing comprises approximately 14.6% of the neighborhood's housing inventory.
The LIHTC program has invested considerably in Stevens, with project tax credits totaling $11,076,611. This equates to an average federal funding of about $41,486 per unit in LIHTC-funded projects. The neighborhood has had LIHTC-funded affordable housing for over two decades, with the first project, 134 Juniata St, completed in 1989, and the most recent, Garden Court, in 2010.
The 2010s marked the decade with the most significant affordable housing development in Stevens, with the completion of Garden Court. This project alone added 264 units to the neighborhood's affordable housing stock, including 252 low-income units. The housing mix in LIHTC-funded projects consists primarily of two-bedroom units (207), followed by one-bedroom units (45), and a smaller number of three-bedroom units (15).
Over the past decade, Stevens has experienced fluctuations in its population, with a notable increase from 4,235 in 2019 to 4,797 in 2020. The median income has shown a general downward trend, decreasing from $44,465 in 2015 to $37,559 in 2022. This decline in median income may indicate an ongoing need for affordable housing in the neighborhood.
The racial composition of Stevens has remained diverse, with a significant Hispanic population consistently representing the majority. In 2022, the Hispanic population accounted for 56% of residents, followed by White (20%) and Black (20%) populations. This demographic diversity underscores the importance of maintaining affordable housing options to support a mixed-income community.
Stevens neighborhood demonstrates a substantial investment in LIHTC-funded affordable housing, with projects spanning over two decades. The 267 LIHTC units, representing about 14.6% of the estimated housing inventory, contribute significantly to meeting the affordable housing needs of the community. The concentration of development in the 2010s, particularly with the large-scale Garden Court project, indicates a recent push to address affordable housing demands. As the neighborhood continues to experience demographic shifts and income fluctuations, the presence of these LIHTC-funded units plays a crucial role in maintaining housing accessibility for lower-income residents in this diverse community.
